Morning Trend | Sunac China tests support during trading, is there new movement in the real estate sector?
Yesterday's closing, Sunac China continued to show weak fluctuations, with sporadic buying throughout the day and funds clearly leaning towards defensive positions. This week, there was little news in the real estate sector, with only rumors of local state-owned asset rescue heating up, but no substantial measures have been implemented, which is insufficient to boost sentiment. More concerning is the lack of signs of easing in industry credit, with main funds continuing a lukewarm pattern. From a technical perspective, the stock price has been running along the lower edge of the Bollinger Bands for several consecutive days, and the MACD remains bearish. The 20-day moving average is far from the current price, forming a medium-term resistance, and short-term replenishment is weak. There were individual stocks in the sector that saw intraday surges, but overall enthusiasm did not persist. Investors are mostly focused on major news regarding real estate rescue, which has become the main theme going forward. In the short term, if Sunac China does not have incremental funds to support it, the support level will be repeatedly pressured, and any negative news during the day could easily lead to new lows. Risk warning: If there is a significant long bearish candle or negative policy impact, the market's weakness may extend, and right-side trading should pay attention to intraday fluctuations and the loss of support
Yesterday's closing, Sunac China continued to show weak fluctuations, with sporadic buying throughout the day and funds clearly leaning towards defensive positions. This week, there was little news in the real estate sector, with only rumors of local state-owned asset rescue heating up, but no substantial measures have been implemented, which is insufficient to boost sentiment. More concerning is the lack of signs of easing in industry credit, with main funds continuing a lukewarm pattern. From a technical perspective, the stock price has been running along the lower edge of the Bollinger Bands for several consecutive days, and the MACD remains bearish. The 20-day moving average is far from the current price, forming medium-term resistance, and short-term replenishment is weak. There were individual stocks in the sector that saw intraday surges, but overall enthusiasm did not persist. Investors are mainly focused on major news regarding real estate rescue, which will become the main line going forward. In the short term, if Sunac China does not have incremental funds to support it, the support level will be repeatedly pressured, and any negative news during the day could easily lead to new lows.
Risk Warning: If there is a significant long bearish candle or negative policy impact, the market's weakness may extend further, and right-side trading should pay attention to intraday fluctuations and the loss of support
