$A GX HSCEICC(03416.HK) It just lay flat all day without moving, yet the RSI has already reached 76, placing it in the 96th percentile of the 20-day range.
This combination is somewhat rare: readings have entered the overbought zone, but the price has stalled. Products linked to the State-owned Enterprise Index are originally driven by the overall sentiment of the Hong Kong stock market; the previous segment was clearly piled up by continuous small gains, and now that momentum is exhausted.
Is the sideways movement in the overbought zone a 换手 (changing hands) to build momentum, or has buying power been depleted? I prefer to prepare for the latter scenario—an RSI of 76 combined with zero daily change usually signals the exhaustion rally (tail end) of this upward trend rather than its midpoint.
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