--- title: "Morning Trend | CHANGHONG JH is bottoming out at a low level, will funds dare to follow?" type: "News" locale: "en" url: "https://longbridge.com/en/news/271760000.md" description: "CHANGHONG JH (3991.HK) continuously refreshed its intraday low yesterday, maintaining a weak technical pattern throughout the day. There was a slight increase in volume during the early trading session, but the momentum for intraday rallies was limited, with a prevailing wait-and-see atmosphere dominating the market. As one of the technology growth concepts, the stock has recently lacked sector catalysts, and the overall inflow of Hong Kong technology stocks has been weak, with a noticeable depletion of confidence among major players. The stock price has been fluctuating around the low of HKD 1.10, and it is highly susceptible to intraday emotional influences. In terms of news, institutional focus is concentrated on the industry uncertainties brought about by the escalation of Sino-U.S. technology friction. Although the AI and semiconductor sectors have occasionally been active, the actual benefits to the PC and electronic distribution businesses are limited. Additionally, the overall valuation of Hong Kong technology companies continues to be under pressure, and there is insufficient desire for foreign and public funds to increase their positions. The rotation of overseas technology mainlines and the reduced stability of U.S. dollar liquidity have both affected the speed of capital inflow into Hong Kong and China technology stocks. From a technical perspective, the MACD has turned down multiple times, and the stock price is close to the lower Bollinger Band, indicating a clear lack of bullish signals in the short term. The HKD 1.10 level has become a critical line for the market; if it breaks down with increased volume or if there is insufficient buying support, the downward space will be further opened. Resistance for a rebound is at the HKD 1.15 area. Historical experience shows that without sudden news to activate speculation, short-term oversold rebounds are unlikely to last, and the market is primarily characterized by oscillating and probing for a bottom" datetime: "2026-01-08T01:00:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/271760000.md) - [en](https://longbridge.com/en/news/271760000.md) - [zh-HK](https://longbridge.com/zh-HK/news/271760000.md) --- # Morning Trend | CHANGHONG JH is bottoming out at a low level, will funds dare to follow? CHANGHONG JH (3991.HK) continuously refreshed its intraday low yesterday, maintaining a weak technical pattern throughout the day. In the early trading phase, there was a slight increase in volume, but the momentum for intraday rallies was limited, with a prevailing wait-and-see atmosphere dominating the market. As one of the technology growth concepts, the stock has recently lacked sector catalysts, and the overall inflow of Hong Kong technology stocks has been weak, with a noticeable depletion of confidence among major players. The stock price has been oscillating around the low of HKD 1.10, and is easily influenced by intraday sentiment. On the news front, institutional focus is concentrated on the industry uncertainties brought about by the escalation of Sino-U.S. technology friction. Although the AI and semiconductor sectors have occasionally been active, the actual benefits to the PC and electronic distribution businesses are limited. Coupled with the continued pressure on the overall valuation of Hong Kong technology companies, foreign and public funds show insufficient desire to increase positions. The rotation of overseas technology mainlines and the reduced stability of U.S. dollar liquidity are also affecting the speed of capital inflow into Hong Kong and Chinese technology stocks. From a technical perspective, the MACD has turned down multiple times, and the stock price is close to the lower edge of the Bollinger Bands, with clear insufficient bullish signals in the short term. The HKD 1.10 level has become a critical line for intraday trading; if it breaks down with increased volume or lacks support during trading, further downside potential will be opened. Resistance for a rebound is in the HKD 1.15 area. Historical experience shows that without sudden news to activate speculation, short-term oversold rebounds are unlikely to last, and the market is mainly characterized by oscillating bottoming. In the current weak market, intraday data and volume performance need to be continuously monitored. If there are sudden movements during trading with accompanying volume, a quick rebound cannot be ruled out; however, in any case, short-term sudden rebounds are unlikely to sustain. The operational strategy should focus on light positions for left-side testing, and it is more prudent to add positions once right-side capital signals become clear. Overall analysis indicates that CHANGHONG JH is currently under pressure in terms of capital, with a stable fundamental situation, and a continued stalemate between bulls and bears, maintaining a weak market bottoming pattern. It is necessary to continue monitoring technical support levels and signals of major player movements to prevent inertia-driven sell-offs ### Related Stocks - [03991.HK](https://longbridge.com/en/quote/03991.HK.md) ## Related News & Research - [Arm Holdings PLC Stock (ARM) Opened Up by 3.54% on Apr 10: A Full Analysis](https://longbridge.com/en/news/282636178.md) - [Hedge Funds Panic, As They Badly Lag Market Surge](https://longbridge.com/en/news/282885141.md) - [07:36 ETAryza Acquires Umbrella Tech, advancing Collection Intelligence with voice-based Agentic AI for the global Collections & Recoveries industry](https://longbridge.com/en/news/282836753.md) - [Foxconn to pour $58M more in Vietnam subsidiary for long-term investment](https://longbridge.com/en/news/282952990.md) - [Photon Bridge and PHIX partner on DWDM external laser sources for hyperscale AI data centers](https://longbridge.com/en/news/282686269.md)