Actually, 30000 is a key level where buyers need to take a rest. From the daily perspective, a 5% drop is expected shortly after.
However, the five o clock drop style is believed to be unsustainable. There are two possible scenarios as below to play with:
1. Drastic fall occur early next week. Price hit the daily zone and bounced back from there
2. Sideways for a while before MAs coming up.
No matter what, HSI is really attractive(valuation) compared to mainland China. A lot of fund coming to HK market via the 'Stock Connect' scheme. Our team also recommends clients to allocate on such funds.
However, the five o clock drop style is believed to be unsustainable. There are two possible scenarios as below to play with:
1. Drastic fall occur early next week. Price hit the daily zone and bounced back from there
2. Sideways for a while before MAs coming up.
No matter what, HSI is really attractive(valuation) compared to mainland China. A lot of fund coming to HK market via the 'Stock Connect' scheme. Our team also recommends clients to allocate on such funds.
Note
HSI is highly correlated with US market with a gap up today.
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plan your trade and trade your plan
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.