--- title: "Pre-market trend | CMOC (3993.HK) faced resistance and retreated on May 4, is the upward momentum weakening?" type: "News" locale: "en" url: "https://longbridge.com/en/news/285046347.md" description: "Yesterday, CMOC closed at HKD 17.95, up 1.99%, after briefly reaching a high of HKD 18.2 during the session before retreating. It opened at HKD 17.88 with a gap up, but the upward momentum quickly weakened above HKD 18, and it failed to hold the intraday high by the end of the session. The MACD daily chart has shown bearish signals, indicating a phase of diminishing upward momentum in the short term, and the previously sustained bullish trend is facing a directional test. The total trading volume for the day was approximately HKD 262 million, with average trading volume and no significant signals of new capital inflow. On the news front, the global non-ferrous metals market has recently been in a state of mixed bullish and bearish sentiment. On one hand, figures like Dalio have warned of rising global macro risks, with geopolitical conflicts and debt issues potentially triggering systemic volatility; on the other hand, if the situation in the Middle East sees a phase of easing, the safe-haven premium for industrial metals like copper and molybdenum may narrow. Trump announced a \"freedom of navigation\" plan for the Strait of Hormuz, and if shipping routes return to normal, the tension in the global commodity supply chain may ease, leading to uncertainty in sentiment for diversified mining companies like CMOC in the short term. Additionally, strong GDP growth in Hong Kong for the first quarter provides some bottom support for the Hong Kong stock market from a macro perspective. Technically, the HKD 18 level has constituted resistance for several consecutive days, and yesterday's unsuccessful attempt to break through further confirmed the effectiveness of this resistance. The 5-day moving average is around HKD 17.6-17.7, still about 2% away from yesterday's closing price, indicating weak short-term support" datetime: "2026-05-05T01:00:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285046347.md) - [en](https://longbridge.com/en/news/285046347.md) - [zh-HK](https://longbridge.com/zh-HK/news/285046347.md) --- # Pre-market trend | CMOC (3993.HK) faced resistance and retreated on May 4, is the upward momentum weakening? Yesterday's closing price for CMOC was HKD 17.95, up 1.99%, after briefly reaching a high of HKD 18.2 during the session before retreating. It opened at HKD 17.88 with a gap up, but the upward momentum quickly weakened above HKD 18, and it failed to hold the intraday high by the end of the session. A bearish signal has already appeared on the MACD daily chart, indicating a phase of diminishing upward momentum in the short term, and the previously sustained bullish trend is facing a directional test. The total trading volume for the day was approximately HKD 262 million, with average volume and no significant signals of new capital inflow. On the news front, the global non-ferrous metals market has recently been in a state of mixed sentiment. On one hand, figures like Ray Dalio have warned of rising global macro risks, with geopolitical conflicts and debt issues potentially triggering systemic volatility; on the other hand, if the situation in the Middle East sees a temporary easing, the risk premium for industrial metals like copper and molybdenum may narrow. Trump announced a "freedom of navigation" plan for the Strait of Hormuz, and if shipping routes return to normal, the tension in the global commodity supply chain may ease, leading to uncertainty in sentiment for diversified mining companies like CMOC in the short term. Additionally, strong GDP growth in Hong Kong for the first quarter provides some bottom support for the Hong Kong stock market from a macro perspective. From a technical standpoint, the HKD 18 level has constituted resistance for several consecutive days, and yesterday's unsuccessful attempt to break through further confirmed the effectiveness of this resistance. The 5-day moving average is around HKD 17.6-17.7, still about 2% away from yesterday's closing price, indicating weak short-term support. If it cannot break through the previous high of HKD 18.2 with increased volume, the stock price may retrace to the HKD 17.5 or even HKD 17 area for reorganization. In the same sector, Ganfeng Lithium saw a stronger performance with a rise of 4.08% yesterday, indicating a growing divergence between lithium and non-ferrous metals. The short-term trend is considered neutral to weak, with the combination of a pullback after a rise and the initial appearance of bearish signals increasing the difficulty of breaking through the HKD 18 level. If the volume continues to shrink and external metal prices weaken, the pressure for a pullback may further manifest, warranting attention to the direction of global commodity prices and the internal capital rotation rhythm within the sector. _This article provides only technical analysis and market information for reference and does not constitute any investment advice. The market carries uncertainties, and investors should make independent decisions based on their own circumstances._ ### Related Stocks - [03993.HK](https://longbridge.com/en/quote/03993.HK.md) - [603993.CN](https://longbridge.com/en/quote/603993.CN.md) - [002460.CN](https://longbridge.com/en/quote/002460.CN.md) - [01772.HK](https://longbridge.com/en/quote/01772.HK.md) ## Related News & Research - [New Buy Rating for CMOC Group (CMCLF), the Basic Materials Giant](https://longbridge.com/en/news/284288286.md) - [CMOC Group Updates 2025 Final Dividend Details and Tax Arrangements](https://longbridge.com/en/news/284412109.md) - [CMOC Group Authorizes Massive Cash Management Investments and Subsidiary Guarantees](https://longbridge.com/en/news/284416724.md) - [Consensus Mining & Seigniorage Corporation GAAP EPS of -$2.95](https://longbridge.com/en/news/285162166.md) - [Breakthrough Minerals Raises A$5.15m to Accelerate North Queensland Copper-Gold Drilling](https://longbridge.com/en/news/285008946.md)