Morning Trend | China Coal Energy key support hovering, when will the main funds flow back?

China Coal Energy (1898.HK) has recently been hovering around key support levels, with trading volume continuously shrinking and main funds primarily in a wait-and-see mode. The MACD on the daily chart is in a death cross state, with green bars gradually expanding, indicating a weak short-term trend, and the suppression from the 5-day and 10-day moving averages is evident. From a fundamental perspective, the coal sector is overall in a key regulation phase, with price elasticity limited and supply-demand contradictions not having undergone substantial reversal. Although the industry has long-term value investment logic, there is a lack of short-term drivers for significant fund inflows. Technical analysis suggests that if trading volume does not increase during the session and the defense line is breached, the downside space will continue to open up. Only with active fund inflows and volume release can a phase of stabilization be achieved. As of now, caution is still required. Operational advice: It is advisable to mainly adopt a wait-and-see approach in the short term and avoid blindly increasing positions against the trend. Wait for clear signs of fund inflows and a stop in the decline before gradually entering the market, with a focus on policies, industry trends, and intraday trading anomalies