Morning Trend | JD LOGISTICS sees an increasing atmosphere of capital wait-and-see, is key support about to be tested?

JD LOGISTICS (2618.HK) maintained a weak trend throughout the day on the 16th, struggling to hold the HKD 46.8 level during the session, with moderate trading volume but mainstream funds not returning. Several pullbacks indicated that selling pressure remained dominant, and the sector rotation effect was limited. The logistics and warehousing sector showed overall volatility, with strong defensive sentiment from major players. In terms of industry news, the express delivery sector is facing downward price pressure due to ongoing price war news, with December's consumption recovery falling short of expectations and e-commerce logistics growth slowing down. By the end of the year, several leading express delivery companies are adjusting their business structures, and there are few significant capital movements in the industry, leading to a lack of short-term confidence across the sector. The market's short-term rebounds are limited in both directions. Technically, the stock price is suppressed by multiple short- to medium-term moving averages, repeatedly oscillating around the key support of HKD 46.8, lacking capital support. If a significant policy change or large order materializes, it may positively impact the stock price. Overall, there is limited room for short-term position increases; if trading volume continues to moderately expand and maintains support, it may build a short-term platform. Otherwise, major players will continue to focus on defense, and market windows will mainly rely on intraday capital fluctuations and policy catalysts. Investors should pay attention to changes in intraday support and manage positions to guard against potential downward trends