The Lockdown Of Shanghai Is Unending! What’s Next for China300?
lowest forex commission–HXFXglobal reminds you:
Multiple factors are unfavourable for the stock index to rise, the China 300 may remain in a congestion area.
Investors are recommended to consider marginal Short near 4090, Target 4030, Stop-Loss by 4132.
The recent earnings season for U.S. stocks shows that more than 80% of companies have exceeded expectations, which may drive investors to increase their risk appetite. Previously, the People’s Bank of China announced a comprehensive RRR cut, releasing about 530 billion yuan of long-term funds. In addition, the GDP recorded 4.8% in the first quarter, which was slightly higher than expected, and the China 300 was still supported. However, Shanghai’s strict epidemic prevention-related restrictions, superimposed on Russia and Ukraine are still in a deadlock, which may still limit the upside of the stock index. On the whole, China 300 may remain in a shock pattern.
In the D1 range, the quotation is located at the lower track of Bollinger, indicating a bearish pattern. The sub-indicator MACD kinetic energy turns from bullish to bearish, and superimposes KD double-line downwards, which is beneficial for investors to be bearish.
*Information above belongs to 3rd party media comments, can only be used for references and doesn’t represent our platform’s opinion. Investors should maintain sole-determination, self-evaluation required and be responsible for their own action.
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Disclaimer: Information above can only be use for references and doesn’t represent our platform’s opinions.
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