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Hk50: short weakness continues to move down

2022-08-23
1215
Basic analysis:

Hong Kong's Hang Seng Index closed down 116.05 points, or 0.59%, at 19656.98 on Monday, August 22; The unexpected interest rate cut did not support the market's popularity. Hong Kong stocks rose and fell, and Hang Seng technology index fell 0.96%. Large tech stocks were mixed, with Netease up nearly 2% and Tencent down more than 1%; The net inflow of funds going south was HK $2.091 billion, and the transaction volume of the market was HK $82.1 billion.


Hang Seng Index hk50 4-hour chart




Technical analysis:


According to the 4-hour chart, the market bears are shrouded in sentiment, the short-term continuous shock is moving down slowly, the low level in the early stage is close at hand and the break is imminent, the MACD index hovers below the 0 axis, and the RSI index is arranged below the 50 equilibrium line;


Long and short turning point: 19679


Pressing position: 19888, 20097


Support position: 19405, 19187


Trading strategy: 19679 lower bearish, target 19405, 19187


Alternative strategy: 19679 bullish, 19888, 20097

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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