Morning Trend | CHINA LIT experiences a volume contraction pullback, can it welcome a change after high-level fluctuations?
China Literature Group (772.HK) showed signs of high-level cashing out again during the period yesterday, with the main players choosing to take profits at high points. The trading volume expanded during the day, presenting a high-level oscillation and pullback. Indicators such as MACD and short-term moving averages weakened simultaneously, indicating that short-term bearish forces are gradually gaining control. The market atmosphere is relatively cautious, and the wait-and-see sentiment continues to spread in the entertainment and even the Hong Kong internet sector, with right-side traders generally maintaining a low operating frequency. Recent concerns about the peak of traffic dividends have been amplified again, and leading internet cultural enterprises generally lack performance catalysts. China Literature has not released any significant positive news, causing market funds to lean towards short-term wave operations, with a low enthusiasm for chasing prices. Meanwhile, self-media reports indicate that the progress of some content industry collaborations is slow, further dampening sector sentiment. Coupled with factors such as declining growth and imbalanced sector competition, the rotation rhythm of the entertainment sector has slowed down. From a short-term perspective, the market is waiting for new event-driven catalysts, with key support levels resting on previous lows. Technically, if there is a sudden increase in volume accompanied by positive news, it may trigger a wave of rebound, but sustainability remains to be tested. There is a strong willingness to switch to defensive funds, and the short-term willingness to chase high prices is extremely low, with trading communities focusing on when right-side events will ignite trading enthusiasm. Overall, the current situation is primarily defensive, with the key being whether volume conversion and intra-day linkage can form a reverse drive
China Literature Group (772.HK) showed signs of high-level cashing out again during the period yesterday, with the main force choosing to take profits at high points. The trading volume expanded during the day, presenting a high-level oscillation and pullback. Indicators such as MACD and short-term moving averages weakened simultaneously, indicating that short-term bearish forces are gradually taking control. The market atmosphere is relatively cautious, and the wait-and-see sentiment continues to spread in the entertainment and even the Hong Kong stock internet sector, with right-side traders generally maintaining a low operating frequency. Recent concerns about the peak of traffic dividends have been amplified again, and leading internet cultural companies generally lack performance catalysts. China Literature has not announced any significant positive news, causing market funds to lean towards short-term wave operations, with a low enthusiasm for chasing prices. Meanwhile, self-media reports indicate that the progress of some content industry collaborations is slow, further dampening sector sentiment. Coupled with factors such as declining growth and imbalanced sector competition, the rotation rhythm of the entertainment sector has slowed down. From a short-term perspective, the market is waiting for new event-driven catalysts, with key support levels resting on previous lows. Technically, if there is a sudden increase in volume accompanied by positive news, it may trigger a wave rebound, but sustainability remains to be tested. There is a strong willingness to switch to defensive funds, and the short-term willingness to chase high prices is extremely low, with trading communities focusing on when right-side events will ignite trading enthusiasm. Overall, the current situation is primarily defensive, with the key being whether volume conversion and intra-day linkage can form a reverse drive
