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HK50: sharp decline at low level

2022-10-25
1269
asic analysis:

Hong Kong Hang Seng Index closed 1030.43 points lower, or 6.36%, at 15180.69 on October 24 (Monday); Hong Kong stocks opened low and walked low today. The three major indexes showed unilateral decline throughout the day, and the market sentiment fell to the freezing point. The Hang Seng Science and Technology Index fell sharply by 9.65% to close at 2800 points. Large technology stocks led the market lower.


Hang Seng Index HK50 4 Hour Chart




Technical analysis:


The 4-hour chart shows that the bearish sentiment in the market continues. There is no sign of stopping the short-term decline, and there is a trend of further downward movement. The MACD indicator is in the low position of the bearish area, and the RSI indicator is in the low position of the bearish area;


Empty turning point: 15274


Pressing bit: 15560, 15864


Support position: 14794, 14490


Trading strategy: 15274 bearish, target 14794, 14490


Alternative strategy: 15274 upside bullish, target 15560, 15864

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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