Morning Trend | AUGROUP quickly tested during the session, the e-commerce sector's high-level switching intensified!

AUGROUP (2519.HK) continued to face pressure in the market yesterday, briefly rising before subsequently declining. Affected by changes in industry policies and competitive landscape, the overall liquidity in the e-commerce sector has decreased, with main funds showing rational bullish behavior, including both early runs and high-level turnover. The trading volume throughout the day was moderately lower than in previous periods, indicating that short-term funds are more inclined to wait and see. From a technical perspective, a MACD daily death cross has appeared, with the momentum histogram significantly declining, and the previous low support has become a focal point for bulls and bears. If funds continue to flow out significantly, there is a risk of a phase break. In terms of news, after the conclusion of the "Double Eleven" event, the effect of traffic diversion combined with expectations of new industry policies has made the short-term trend unclear. Investors should closely monitor industry dynamics and trading activity, focusing on adjustment opportunities during the policy signal fermentation period. Intraday fluctuations often correspond to potential structural fund transfer points, and operational strategies should prioritize fund safety and avoid high-level passive turnover areas. Overall, the current market environment is gradually intensifying the patience test for e-commerce leaders, and subsequent easing or stimulus measures will be the fundamental conditions for reversing perceptions