Morning Trend | CHINA GAS HOLD oscillates around high levels, is the bullish layout ongoing or are there hidden concerns?

China Gas (384.HK) has recently maintained a fluctuation at historical highs, with a MACD golden cross forming on the technical front, but the trading volume has not shown sustained expansion. The main position structure indicates that bullish funds have continuity, but some chips have shown signs of loosening at high levels. In the early trading phase, the market showed mixed performance, indicating intense long-short competition. Overall, the short-term bullish pattern remains unchanged, but the lack of supporting trading volume hides the risk of a pullback. It is recommended to pay attention to the 5-day moving average and high-level support; if it can hold the key support and break through with increased volume, then a medium-term bullish outlook will continue; if it repeatedly faces pressure at high levels, a short-term adjustment cannot be ruled out. In terms of operations, it is advisable to adjust positions dynamically in conjunction with sector rotation and industry fundamentals, and avoid blindly chasing highs