[Warrant Insights] CATL battles the 500 mark, strategy focuses on low-premium warrants

CATL performed exceptionally well with its share price rising against the market trend by 2.85%, closing at 491 yuan. The trading volume reached 2.246 billion yuan. During the session, it approached the key level of 500 yuan but unfortunately retreated slightly towards the close, failing to hold above this level. The trading volume increased compared to previous days but did not reach the high levels seen on November 20 last year; volume release remains relatively controlled.

We 【Hong Kong Stock Report】January 30 [Hong Kong Stock Podcast] Hang Seng Index, CATL, Kuaishou, Zijin Mining, BYD, AIAAnalysts have commented on CATL: Many investors are watching whether CATL can reclaim the 500-yuan threshold under the current trend. Meanwhile, some investors have started paying attention to related call warrant products, seeking suitable investment opportunities. Among them, the call warrant with a strike price of 629.38 yuan has become an object of interest for some investors. $Hang Seng Index (800000.HK)$$CATL (03750.HK)$$KUAISHOU-W (01024.HK)$$ZIJIN MINING (02899.HK)$$BYD COMPANY (01211.HK)$$AIA (01299.HK)$

Based on a comprehensive analysis of various technical indicators, CATL’s overall technical signals are currently "neutral" with a signal strength of 8. The bulls and bears remain in a deadlock, with no clear guidance for upward or downward movement: Moving averages system: The closing price of 491 yuan is higher than the 10-day moving average (476.36 yuan), but lower than the 30-day moving average (493.01 yuan) and the 60-day moving average (499.85 yuan). There is short-term support, but medium-term pressure persists from upper moving averages, indicating a consolidation phase.

The RSI index is 49, near the neutral line of 50, corresponding to a "neutral" signal, indicating that there are no signs of overbought or oversold conditions, with relatively balanced bullish and bearish forces. Other oscillation indicators also indicate neutrality, further confirming the lack of clear direction in the short-term trend.

The MACD signal shows "buy," while the Ichimoku Cloud gives a "sell" signal, showing slight divergence among indicators. It is not advisable to rely solely on any single indicator to determine trends. Bollinger Bands, bull-bear power indicators, etc., all show neutral performance without obvious trend signals.

On January 30, CATL, as the leading new energy battery company, rose against the market trend. However, significant divergence was observed among other stocks in the same sector, and market sentiment did not reach a consensus:

1、 $BYD COMPANY (01211.HK)$ : Closed at 97.75 yuan, down 3.98%, with the stock price breaking below the 10-day moving average (99.53 yuan). Although the technical indicators summarize a 'buy' signal, the RSI is 51, which is neutral, indicating weak momentum and failing to follow the leader's rise.

2、 $GANFENGLITHIUM (01772.HK)$ : The stock plummeted 10.90%, closing at 60.5 yuan. The technical indicator signal is 'neutral', with significant volatility and trading far below key moving averages, showing relatively weak performance.

Overall, the new energy sector currently lacks unified leadership for gains. CATL’s countermovement is more about individual stock technical recovery rather than a sector-wide reversal. Investors should be wary of risks from stock fluctuations due to sector divergence.

As of 9:56 AM today (February 2), CATL is trading at 492.2 yuan, up slightly by 0.24%. The primary target is to break through the 500-yuan psychological level; if successful, the first resistance will be at 511 yuan, and further upward potential could see 520 yuan. If it fails to break through 500 yuan, the stock may retreat to test support levels. Immediate support is seen at 471 yuan, with further support at 464 yuan.

Warrant Review and Product Highlights: Low Premium, Suitable Leverage Preferred

(I) Warrant Review

Looking back at the CATL call warrants recommended on January 26, 2026, both products performed well, achieving an 8% increase within two days, while the underlying stock rose by 2.02% over the same period, demonstrating the leverage effect of warrants: $MS-CATL@EC2612A.C (22777.HK)$ : Increased by 8% after two days; $BI-CATL@EC2612B.C (22946.HK)$ : Increased by 8% after two days.

Friendly reminder: As derivatives, warrants are more volatile than their underlying stocks. Even if short-term performance is good, it’s crucial to closely monitor the underlying stock’s trend and expiry risks.

(2) Warrant Product Selection:

Based on CATL's current neutral trend, two call warrant products have been selected, prioritizing premium, implied volatility, and reasonable leverage for investors' reference:

1、 $SG-CATL@EC2605A.C (23008.HK)$: Leverage of 9x, exercise price of 580.5 yuan; its core advantage lies in having the lowest premium and implied volatility, with relatively controllable costs. Suitable for investors confident that the underlying stock will break above 500 yuan, with relatively lower risk.

2、 $BI-CATL@EC2605C.C (24328.HK)$: Leverage of 8.8x, exercise price of 580.5 yuan; its core advantage is ideal leverage and implied volatility, balancing leveraged returns and risks. Suitable for investors seeking reasonable leverage returns with moderate risk tolerance.

Risk Warning: Regarding put warrants,$UB-CATL@EP2603A.P (22842.HK)$ 、 $BI-CATL@EP2603A.P (22281.HK)$ although it has some advantages, there is currently no clear downside signal for the underlying stock. Investors looking to hedge risks may moderately consider it but should avoid excessive holding.

Will CATL break through the key level of 500 yuan? A: Yes. B: No. C: Hard to say.

Do you think CATL’s short-term support will test 471 yuan? A: Yes. B: No. C: Depends on sector movement.

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Disclaimer: This article does not constitute any investment advice.

This article is for reference only and does not constitute any investment advice. The market data, opinions, and analysis contained herein may change at any time without prior notice. We are not responsible for any loss or damage caused by reliance on the information in this article. Technical analysis only shows whether certain technical conditions are met; a comprehensive assessment of asset performance should be conducted using additional data. Decisions to trade should not be based solely on this article. Please note that past performance is not indicative of future results.

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