Likes ReceivedIt's highly likely to continue rising in the afternoon!!
$SentinelOne(S.US)hanghai Composite Index sh000001$ This morning, the three major stock indices collectively rose, with the ChiNext Index up more than 1%, the STAR 50 also up more than 1%, and the Shenzhen Component Index up more than 1%. From this situation, the overall market is indeed recovering. Moreover, all three major indices opened higher, which clearly indicates that the market momentum has strengthened in the short term.
The ChiNext Index is already close to the previous resistance level. If it can continue to break through in the short term, it is highly likely to rise further; but if it fails to break through, there is still a risk of a pullback after a rally in the short term. Today, we still need to watch the gap. If it is not filled, there is still a possibility of an upward breakout, which could lead to a shift from weakness to strength in the market.
Looking at the STAR 50, it is still hovering below the 30-day moving average, and the pressure is quite obvious. Although there has been a short-term rebound, the momentum is still weak, and the overall trend remains volatile. This also suggests that the current rebound in the two innovation indices may only be temporary. To stabilize, there needs to be volume support, especially since there are already signs of stagnation.
The brokerage sector rebounded today, but it has not broken through the 30-day moving average in the short term, and the pressure remains significant. Moreover, the sector has already shown internal divergence, with significant short-term capital outflows, clearly indicating insufficient momentum and a contraction trend. If it can break through the 30-day moving average upward in the afternoon, the market may continue to rise and even surpass the previous high of 3936 points; otherwise, a pullback after a rally is still likely.
As for the banking sector, it is still in an adjustment phase, with persistent pressure from the 30-day moving average. The adjustment in the banking sector also signals a rotation in market trends. The overall financial sector is showing a volatile trend, indicating a slowdown in the short-term rebound momentum.
Today, more than 3,000 stocks rose, with over 90 hitting the daily limit-up. The market remains relatively stable in the short term. As the market gradually stabilizes, signs of an upward breakout are becoming more apparent.
From a sector perspective, the Hainan Free Trade Zone concept continued to perform strongly today, while precious metals, photoresists, memory chips, minor metals, and semiconductors also performed well. The tech sector's popularity has risen, and this short-term rebound has effectively helped stabilize the market.
Therefore, the market performed quite strongly today. On the daily chart, it has already broken through the 30-day and 60-day moving averages. If it can stabilize, the upside potential may further expand.
From the 60-minute chart, the market has been steadily recovering today. Trend analysis shows it has reached a short-term support level and is nearing the top of the consolidation range. If it can maintain stability and volume, breaking through 3936 points in the short term is not difficult; otherwise, a pullback after a rally is still possible.
Today's support level is at 3890 points. If the gap below is not filled, I think the market is likely to continue oscillating upward in the afternoon.
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