PATEO (2889.HK) weakened during the session, pressured by the automotive technology sector
On January 23rd, PATEO experienced a day of volatility and weakness, with limited rebound momentum during the session and noticeable capital outflow. Recently, the smart connected and automotive technology sectors have cooled down, with factors such as slower industry project approval processes and delays in new intelligent orders putting pressure on related companies. Market sentiment has become more cautious, bullish momentum has weakened, and the overall weakness of the sector is evident.
From a technical perspective, the stock price has been operating below the main moving averages for several consecutive days, and market confidence continues to be under pressure. Occasional rebounds during the session have been accompanied by low trading volumes, with main capital leaning towards short-term profit-taking, resulting in significant selling pressure overall. There are currently no new positive news in the industry, and the market is primarily engaged in stock capital games, with structural resistance being prominent.
At present, the market is focused on the progress of industry approvals and potential business synergy signals. Only a substantial reversal or new synergies can change the current pressure on the sector. Short-term risks still need to be monitored for sudden negative news or accelerated capital outflow. The short-term recommendation is to remain cautious and wait for new catalytic opportunities at the sector or company level
Technical Forecast·
