Hk50: market bears continue to fall

Basic analysis:

Hong Kong's Hang Seng Index closed down 210.34 points, or 1.05%, at 19830.52 on Tuesday, August 16; The three major indexes of Hong Kong stock jumped in the afternoon, and the Hang Seng technology index fell 2.19% to 4214 points. Today, the net outflow of funds from the South was HK $312 million, and the transaction volume of the market increased to HK $92.9 billion. Large technology groups continued to fall sharply in the afternoon. Under the influence of Tencent's rumor of reducing holdings, meituan fell 9%, leading the decline. Morgan Stanley updated the list of focus stocks in China and Hong Kong, removed Tencent, and replaced it with jd.com, the first choice for e-commerce. Da Mo pointed out that the bank's Internet analysts were cautious about Tencent's diversified business, and expected that there would be potential pressure on gross profit margin in the short term. It was expected that Tencent's local game revenue in the second quarter would fall by 3% year-on-year due to the limited number of new games launched and the decrease in the playing time of minors.

Hang Seng Index hk50 4-hour chart

Technical analysis:

According to the 4-hour chart, the short power keeps moving downward in a low and wide range. There is no sign of stopping the short-term decline. The MACD index hovers below the 0 axis, and the RSI index is in a narrow range under the 50 equilibrium line;

Long and short turning point: 19869

Pressing position: 20108, 20343

Support position: 19563, 19379

Trading strategy: 19869 lower bearish, target 19563, 19379

Alternative strategy: 19869 bullish, target 20108, 20343