The overall HK market sentiment appears bearish. Here’s why:
KDJ Indicator: The KDJ has been trending downward since October 8, indicating persistent downward pressure, with any temporary rebounds being seen as short-term corrections rather than a reversal.
Divergence in Volume: There’s a mismatch between price and volume. Even though the index attempted to rebound after the initial dip to 20715, the lower trading volume signals weak upward momentum, which suggests potential further downside risk.
Heavy Selling Volume: Large volume on down days and lower volume during rebounds is typically a bearish signal. The appearance of "tombstone hammer" patterns (candles with upper shadows) indicates selling pressure on rallies.
Unless there's a notable change in trading behavior or a strong bullish catalyst, the market is more likely to continue in a downtrend. Stay cautious!
@TigerPicks @TigerPM @Tiger_comments @TigerStars @MillionaireTiger @Daily_Discussion
Modify on 2024-10-17 06:14
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