Hk50: short weakness moves downward

Basic analysis:

Hong Kong's Hang Seng Index closed up 9.12 points, or 0.05%, at 19773.03 on Friday, August 19; The three major indexes of Hong Kong stocks showed a volatile market throughout the day, and the Hang Seng technology index fell slightly by 0.01%. On the market, the trend of large-scale technology stocks was divided. Kwai rose by 4.6%, Alibaba increased by 1.42%, Tencent increased by about 1%, Netease fell by more than 6% after the performance, and meituan and Baidu declined slightly; The agency pointed out that extreme high temperature and dry weather caused tension in power supply and demand. The power sector led the rise all day, and the coal sector also rose significantly; 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 short-term low range fluctuates, the short weakness slowly drops, the market short sentiment is shrouded, 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: 19791

Pressing position: 19990, 20199

Support position: 19532, 19349

Trading strategy: bearish under 19791, target 19532, 19349

Alternative strategy: bullish above 19791, target 19990, 20199