Morning Trend | ILUVATAR COREX (9903.HK) in Range Consolidation, Strong Atmosphere of Capital Caution

Tianshu Zhixin (9903.HK) maintained a sideways oscillation at the bottom of the range yesterday, making it difficult to form a breakthrough in the short term. The AI and semiconductor sectors showed mixed performance this week, with market activity lagging behind the same period last year, and major players are clearly becoming more cautious. Trading volume continues to hit new lows, with major funds testing operations within the range, and a prevailing wait-and-see sentiment. There have been no effective breakthrough signals in the short cycle, and the tug-of-war between bulls and bears is evident. In terms of capital flow, most of Tianshu Zhixin's recent funds have flowed into other short-term hotspots or consumer mainlines, with a lack of outstanding innovative projects or order implementations in the AI chip field. The vacuum of hot topics has weakened the willingness of active buyers. The external technology environment also shows no significant uplift, with the market repeatedly testing the lower support of the range, but follow-up funds are weak, mainly consisting of non-active buying. If there are breakthrough innovations or substantial progress in industry cooperation in the AI supply chain in the future, the sector is expected to trigger a short-term volatility window. Investors are advised to pay attention to the gains and losses of the support level in the range and the relationship between volume and price. If the support holds, the bottom oscillation will be maintained; if it fails, one should guard against accelerated downside risks. In the short term, a wait-and-see approach is recommended, closely tracking changes in the industry and macro catalysts