Morning Trend | CHICMAX faces high-level pressure, when will the funds break through the main line?

On January 27th, CHICMAX (2145.HK) continued its adjustment pattern, with insufficient momentum for funds to chase higher prices during the day, maintaining a weak low-level fluctuation. From a minute-by-minute perspective, active selling continued to suppress the rebound strength, with low trading volume and signs of an expanding overall consolidation range. The 13.38 yuan level became the focus of attention for the day, with evident weakness in the battle between bulls and bears, and a loosening of positions, leaving bulls hesitant. The beauty makeup sector lacks news catalysts in this cycle, with leading brands not releasing new products or collaborations, and companies in the industry are all reducing costs and increasing efficiency without generating linked enthusiasm. The fund positions within the sector are relatively low, and the amplitude of minute-by-minute fluctuations continues to converge. Some major institutions, considering defensive strategies, have not dared to increase positions in new hotspots, resulting in a sluggish trading atmosphere. Technically, the MACD continues to show a death cross, with short-term weak inertia still in place. Although there are occasional small fund replenishments against the backdrop of overselling, the structure remains bearish. If there are signs of active fund movements lifting prices during the day, short-cycle trading opportunities may be worth noting, but caution is needed to prevent technical rebounds from becoming "trap for the bulls," as a breakdown of key price levels may lead to a gathering of stop-loss orders. Overall, it is judged that CHICMAX is in a downward fluctuation phase, with weak fund liquidity, and opportunities mainly arise from oversold rebounds. It is recommended to maintain light positions for short-term speculation and closely monitor the coordination of volume and price as well as changes in external news. In the absence of sudden policies or industry hotspots driving the market, it is advisable to maintain a cautious defensive stance