Morning Trend | CHALIECO's Weak Rebound Lacks Strength, Is the Sector's Linkage Effect Weakening?

CHALIECO (2068.HK) has recently weakened, continuing to decline after a MACD death cross on the daily chart, with short-term rebounds lacking strength. The stock has attempted multiple times to rise above the 5-day moving average but has failed, indicating insufficient short-term support and a dominant bearish atmosphere. The overall linkage between steel and aluminum has weakened, with marginal declines in industry prosperity. Affected by the phased retreat of commodity prices and increased uncertainty in the pace of global economic recovery, the production pace of bauxite and downstream projects has slowed, leading to intensified fluctuations on both the supply and demand sides. Market sectors are experiencing capital outflows, with structural market conditions prominent, resulting in relatively weakened liquidity for CHALIECO. Technically, the stock price continues to show weakness below the 5-day and 10-day moving averages; if it cannot close above HKD 2.15 today, the support at the previous low of HKD 2.08 may soon be breached. If faced with large sell orders, a drop to the HKD 2.00 round number cannot be ruled out. The intraday capital performance is weak, with major institutions primarily adopting a defensive observation stance. There are no clear positive industry news, and effective synergy in short-term sector linkage has not yet formed, with downstream project drivers also not prominent. External macro fluctuations and disturbances such as Federal Reserve interest rate hikes are constantly present, putting pressure on the sector. Some funds are attempting to buy on the left side at low prices, but the current cost-performance ratio is not outstanding, and participation during the day should be approached with extreme caution. Operational advice: In a weak market environment, focus on light positions or wait-and-see to control risk exposure, strictly prohibiting chasing declines or blindly trying to catch rebounds. If there are unusual movements in the phase, closely monitor the volume status and industry crossover data. More conservative investors may wait for industry resonance positive news to materialize and clear signals of capital inflow before choosing to position