HANG SENG INDEX trend at the begining of DEC (06 dec to 10 dec)==========================
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This chart and trend analysis is MERELY an OPINION, not the PROFESSIONAL ADVISE
This analysis does not provide any trading suggestion and ask for selling and buying, please be responsible for your own investment behaviour
And we do not be responsible for your own loss
Also, the future might change anytime and everything won't go as what we predicted, so please accept this analysis as an entertainment, don't be serious about fail prediction or wrong concept and prediction. Thank you.
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Analysis Start
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Greetings, I think lot of people have bought on dips and sold on rallies this three days. Although it worth to take some risk to do some trade, but i still not recommend to hold a lot of stock at this moment.
Since the Omicron Virus has been found in 29 countries around the world, most of the investor still fear about it, therefore a lot of panic sold happened inthis week. But i believe that after the Covid-19 Pandemic, people will at least adapt to this situation within two weeks, before Christmas holiday.
And i have also shared a news for China,Hong Kong and America as below:
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Chinese technology stocks were weak, with Alibaba (09988) US stocks and Tencent (00700) ADR lower than Hong Kong's closing price. Ali closed at 122.6 yuan yesterday, a drop of 60% from the historical high of 317.14 yuan, and its market value has evaporated by more than 4 trillion yuan.
The recent decline in technology stocks was firstly related to the mainland’s ban on VIE’s overseas listing. Although the China Securities Regulatory Commission later denied it, it did not address market concerns. Then the US Securities Regulatory Commission (SEC) passed an amendment this morning to confirm implementation. The "Foreign Company Accountability Act (HFCAA)" passed in 2020, foreign companies listed in the United States may be delisted if they do not comply with the information disclosure requirements of the U.S. regulatory agencies.
In addition, China Aoyuan (03883) was required to repay the total principal amount of approximately US$651.2 million in financing, but failed to reach an agreement with the creditors, which caused further concerns about the default of domestic housing.
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Therefore, 06 Dec to 10 Dec will probably go sideway retracement for short period since the panic sell and profit taking still continue this week, and PROBABLY will continue until next week. A resistance around 23800, if only the trend and break through it and stand still next week, then the trend will have chance to rebounce until 24700, a second resistance for HSI .
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Our suggestion to HSI
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Might seek of chance to buy some dips, but if the trend break through 23300, should leave the market and observe it for a short period, because IF THE SELL PRESSURE IS STRONG, WILL PROBABLY USE BREAKING THE BOTTOM STRATEGIC TO SCARE OUT THE UNSTABLE RETAIL INVESTORS, IN ORDER TO CREATE A CHANCE TO RISE THE TREND.
The breaking bottom strategy will probably break until 23000 if it happened. But we predict it might oscillae around 23750 to 23300 for a while.
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At last, all the prediction above IS MERELY AN OPNION, and probably won't go as we predicted, so please jsut accept all this prediction as a entertainment .
Hope all of you may gain more and more profit in Stock market, good luck
