Morning Trend | CANGGANGRAILWAY weakly breaks down, sector sentiment declines, leading to increased intraday observation
CANGGANGRAILWAY (2169.HK) yesterday fell below the previous weak support during intraday trading, with sector sentiment weakening simultaneously. The intraday trading volume has decreased, and the proportion of tentative buying by funds has lowered, indicating a declining willingness among mainstream institutions. Affected by macroeconomic uncertainties and industry policy disruptions, the railway transportation sector has experienced increased volatility, and CANGGANGRAILWAY is showing a clear "bottoming" trend. The technical indicators continue to show short-term death cross signals, with the MACD operating below the zero axis, and the K-line still unable to break through the short-term moving average resistance. The support level has slid down to around HKD 4.3, and if it falls below this level without follow-up buying, there is a risk of further retreat towards the previous low of the HKD 4.0 area. Conservative investors should focus on waiting for market intraday signals, paying attention to industry news and changes in market sentiment, with opportunities more suitable for gradual participation on the right-side signals
CANGGANGRAILWAY (2169.HK) fell below previous weak support during yesterday's trading session, with sector sentiment weakening in tandem. The intraday trading volume decreased, and the proportion of tentative buying by funds declined, indicating a lack of enthusiasm among mainstream institutions.
Affected by macroeconomic uncertainties and industry policy disruptions, the railway transportation sector has seen increased volatility, with CANGGANGRAILWAY showing a clear "bottoming" trend. The technical indicators continue to show short-term death cross signals, with the MACD operating below the zero axis, and the K-line still unable to break through the short-term moving average resistance.
The support level has slipped to around HKD 4.3, and if it falls below this level without follow-up buying, there is a risk of further retreat towards the previous low of the HKD 4.0 area. Conservative investors should focus on waiting for market intraday signals, paying attention to industry news and changes in market sentiment, with opportunities more suitable for gradual participation on right-side signals
