Morning Trend | After three consecutive gains, CHINFMINING shows unusual activity from the main force, caution is needed for chasing high prices
China Nonferrous Mining (1258.HK) recorded three consecutive daily gains, but recently there have been frequent capital movements during trading hours, with market sentiment shifting from a unified bullish stance to increasing divergence. The MACD formed a golden cross during the week, with bulls taking the initiative in the short term, but yesterday there was a divergence between volume and price, indicating clear signs of main capital's pressure during trading, and some high-position short-term funds concentrated on cashing out. After a continuous rise in K-line, an upper shadow appeared, indicating that chasing high funds are under pressure, and the pressure to give back gains is increasing.
From an industry perspective, the current nonferrous metal market is still dominated by fluctuations in international base metal prices. Upstream mining companies are frequently adjusting prices in the futures market for copper, zinc, lead, etc., and under the stimulation of news, the pace of main capital has accelerated. China Nonferrous Mining's profitability has marginally improved in the past two quarters, and operating cash flow has turned positive, but there is pressure from high valuations, and capital is skeptical about the sustainability of the trend. This week, market rotation has accelerated, and the leading stocks in the nonferrous sector have shown significant short-term differentiation, requiring attention to the high-low switching and rotation rhythm of capital.
Operational advice: After three consecutive daily gains, technical analysts should pay attention to the gains and losses of the 5-day moving average; if it breaks below, consider taking profits and strictly control the risk of chasing highs in the short term. Fundamental investors should focus on the actual impact of metal price trends on performance and avoid blindly following short-term hotspots. Overall, after the main capital's movements, market chasing high divergence has intensified, and caution is needed against high-level pullbacks
Technical Forecast·
