6/7/2018-4

Hang Seng Oversold Acresing Bomb Try 250 Antenna

The Hang Seng Index fell for the third consecutive week before the end of the semi-annual period. It fell 383 points (1.3%) last week and closed at 28,955 points.

Looking back at the changes in the market (city width) for the week, the overall Hong Kong stock market width recorded a decline, the stock price was 32% higher than the 250 antenna ratio, down 4.5 percentage points; the stock price was higher than the 50 antenna ratio fell 6.9 percentage points to 24.5%. 1]; 3 antennas higher than 18 antenna ratio fell by 6 percentage points to 17%; long, medium and short-term market widths were abnormally oversold, and touched the support line, it is expected that there will be a technical rebound.

China Southern Airlines fell 20% in the week, the worst stocks

From the technical trend analysis, the Hang Seng Index surged in the low level in December last year, and the daily RSI rebounded below the 30 level. It is expected that the resistance will be seen between 250 antennas and about 30,000 points of the crab cargo area [Figure 2].

Among the main index constituents, 9 stocks were higher than 50 antennas, and 18 stocks rose in the week, and the ratio of the above-mentioned Hong Kong stocks fell to 24.5%. The overall Hong Kong stocks fell above the 50-antenna ratio to 24.5%, indicating that the index stocks ran. Lose the overall market. Driven by the rebound in oil prices, CNOOC (00883) rose 9.7% for the week, which was the best performing index stock. China Southern Airlines (01055) was the worst performer in the constituent stocks with a weekly diarrhea of ​​20.2%.

In terms of industry performance, more than 10% (four in total) sectors recorded a five-day increase [Figure 3]. In the large-cap market (market value of 1.09 trillion yuan or more), the two sectors recorded a five-day increase, of which the petrochemical sector clearly outperformed the HSI, up 5% in 5 days; hotel/leisure, real estate sector underperformed The 5-day volatility was -4.6% and -5%, respectively.

As for the small and medium-sized market segment, there were also two 5-day gains. Among them, the agricultural sector outperformed the HSI significantly, with a 5-day change of 2.5%; coal, electronics, auto, retail/trade, construction, metals and aviation sectors were behind , 5 days fell 3.5%, 3.6%, 3.8%, 4%, 4.9%, 5.2%, 6.3%. From the “overbought" and “oversold" indicators, [Table], 15 sectors are in the “neutral" zone, and 8 sections are located in the “overbought" zone.

In terms of A-shares, the Shanghai Composite Index fell for 6 weeks before the end of the half-year period. It closed at 2,848 points last week and fell 42 points (1.5%) a week. In the second half of the year, the Shanghai Composite Index bottomed out again. It saw a minimum of 2,756 points yesterday and closed at 2,775 points, falling below the 2,800-point mark.

As of yesterday, the A share price is higher than the 250 antenna ratio from 9% last Friday to 8.2% [Figure 4]; the stock price is higher than the 50 antenna ratio is as low as 7.1%; 3 antenna is higher than the 18 antenna ratio is even rising In two days, it reached 9.6%. The long-term market plunged to a low level after the beginning of 2016, and the short-term and medium-term cities were broader than the bottom of February.

In the technical trend, although the Shanghai Composite Index stabilized at 2800 points last week, it slightly recovered the central axis of the downtrend channel [Figure 5], but yesterday, the daily RSI has seen a serious oversold, which is expected to trigger a rebound and have the opportunity to challenge the channel. Top 3000 points.

The S&P 500 index fell 37 points (1.3%) to close at 2,718 points last week; the Nast index fell 183 points (2.4%) to close at 7510 points; the Russell 2000 index reported 1643 points and laged 43 points (2.5%). The S&P 500 index and the Nast index fell for two weeks, and the Russell 2000 index was the worst performer among the three indices.

The NYSE midline city test is 50% of the central axis. It is now a health callback. The uptrend has not turned bad. The last line of defense [Figure 6] is not to be lost. The Nate midline market is similar to the NYSE. It is still stabilizing the 50% central axis, and the uptrend is not reversed.