Morning Trend | Huaneng Power adjusts with reduced volume, can the weak pattern be broken?

Huaneng Power International (902.HK) showed a lackluster performance on January 30, with trading volume significantly reduced compared to last week. Since the end of last year, the power sector has seen a decline in trading sentiment due to a lack of clear direction and policy drivers. Current policy discussions regarding energy consumption and industry regulation have become more moderate, and with the earnings season for leading stocks yet to arrive, institutional positions are in a waiting period. Yesterday, the stock price fluctuated around the support line of 5.7 yuan, with low buyer interest and a noticeable narrowing of short-term volatility. On the news front, fluctuations in international energy prices and new forecasts from the U.S. Energy Information Administration have caused external disturbances, indirectly affecting the performance of Hong Kong A-share power stocks. The market is not optimistic about the subsequent profit recovery of power companies, with smaller stocks experiencing tighter liquidity and limited space for long and short operations. From a technical perspective, the MACD continues to decline, and the daily K-line is under pressure, with any intraday rebounds facing bearish pressure. Trading activity remains sluggish, reinforcing the characteristics of "old hotspots" in the sector, with signs of major players adjusting their positions frequently. Attention should be paid to the 5.7 yuan support level; if there is a sudden increase in volume or positive news, a rebound from oversold conditions may occur. However, the overall market rotation remains unclear, and cautious investors should monitor volume, price, and news margins to guard against further weakness and new lows. The investment strategy suggests a focus on dynamic observation, emphasizing technical patterns and unexpected variables