Morning Trend | CHOW TAI FOOK observes with reduced volume, is the key support about to be breached?
As of the close on November 28, CHOW TAI FOOK's market clearly cooled down, with weakened buying power and continuous shrinkage in trading volume throughout the day, showing more caution from major funds. Earlier, the market focused on whether the gold and jewelry sector could attract a return of funds, but this week there were no substantial performance benefits or industry catalysts released, leading to an increasingly strong wait-and-see atmosphere. Several leading jewelry companies had their executives interviewed by the media this week, mentioning weak macro consumption willingness and limited new product momentum, which directly affects the confidence in the sector. In light of this news, CHOW TAI FOOK's short-term rebound appears even weaker, with trading volume consistently failing to expand. Technically on the daily chart, the 5-day and 10-day moving averages repeatedly crossed downwards, and the MACD continues to "move down against the trend," with market sentiment leaning bearish, and the stock price halting at a phase low, with support pressure gradually becoming apparent. Without new policies or opportunities in the sector, the support is facing a test. Risk warning: In the event of large sell-offs or panic selling, the short-term downward space may increase, and the defensive mindset remains dominant
As of the close on November 28, CHOW TAI FOOK's market clearly cooled down, with weakened buying power and continuous shrinkage in trading volume throughout the day, showing more caution from main funds. Earlier, the market focused on whether the gold and jewelry sector could attract capital inflows, but this week there were no substantial performance benefits or industry catalysts released, leading to an increasingly strong wait-and-see atmosphere. Several leading jewelry companies had their executives interviewed by the media this week, mentioning weak macro consumption willingness and limited new product momentum, which directly affects sector confidence. Combined with this news, CHOW TAI FOOK's short-term rebound appears even weaker, with trading volume consistently failing to expand. Technically on the daily chart, the 5-day and 10-day moving averages repeatedly crossed downwards, and the MACD continues to "move down against the trend," with market sentiment leaning bearish, and the stock price halting at a phase low, with support pressure gradually becoming apparent. Without new policies or opportunities in the sector, the support level faces testing.
Risk warning: In the event of large sell-offs or panic selling, the short-term downward space may increase, and the defensive mindset remains dominant
