HK50: Low level oscillation

Basic analysis:

Hong Kong Hang Seng Index closed up 152.08 points, or 1.0%, at 15317.67 on October 26 (Wednesday); Influenced by the continuous rise of US stocks, Hong Kong stocks continued to rebound yesterday. The Hang Seng Technology Index once rose nearly 5%. The general rise of large technology stocks pushed the market up. Meituan rose 5%, Xiaomi and Kwai rose 3.5%, Tencent rose 2.5%. Today, the net inflow of funds from the south was HK $6.519 billion, and the turnover in the market was HK $130.7 billion.

Hang Seng Index HK50 4 Hour Chart

Technical analysis:

The 4-hour chart shows that the short power low position maintains a narrow consolidation, the market is still in a weak position, and there is no sign of rebound in the short term. The MACD index is in the low consolidation of short positions, and the RSI index is in the shock of short positions;

Empty turning point: 15553

Pressing: 15864, 16247

Support: 14984, 14641

Trading strategy: 15553 bearish, target 14984, 14641

Alternative strategy: bullish above 15553, target 15864, 16247