Morning Trend | SIGENERGY (6656.HK) shows sluggish consolidation, with key technical levels acting as pivot points

On April 17th, SIGENERGY (6656.HK) closed showing that it continues to be under pressure. The daily MACD indicator has shown a death cross, indicating that the market bears are in control. Trading volume has significantly shrunk, indicating that funds are continuing to flow out of the sector, which suppresses short-term rebounds. Technically, the stock price is running below the 5-day and 10-day moving averages, showing a significantly weak pattern. The macroeconomic bearish drivers and the overall weakness of the new energy sector make the current support level of HKD 3.50 particularly critical; if broken, it may exacerbate the adjustment. A rebound needs to look at the important resistance at HKD 3.90 and a consistent increase in trading volume. Long-term investors need to closely monitor the continuous manifestation of industry policies and funding conditions