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How to view the post-holiday market trend in Hong Kong stocks?
港股窩輪Jenny
joined discussion · Feb 6 09:18

【Warrant Perspective】Key technical indicators show divergence; short-term fluctuations in the Hang Seng Index may continue

On February 5, $Hang Seng Index (800000.HK)$
The day closed at 26,885.24 points, up 0.14% for the day, with a turnover of 315.112 billion yuan and a 5-day volatility of 5.5%.
From a technical indicator perspective, the RSI for the Hang Seng Index is 48, which is in the neutral zone. Multiple oscillation indicators are showing neutral signals, while indicators like MACD and Bollinger Bands are diverging. Overall market sentiment has not formed a clear direction, with rotation among individual sectors.
On February 5, $Hang Seng Index (800000.HK)$ The day closed at 26,885.24 points, up 0.14% for the day, with a turnover of 315.112 billion yuan and a 5-day volatility of 5.5%. From a technical indicator perspective, the RSI for the Hang Seng Index is 48, which is in the neutral zone. Multiple oscillation indicators are showing neutral signals, while indicators like MACD and Bollinger Bands are diverging. Overall market sentiment has not formed a clear direction, with rotation among individual sectors. Combined with the previous day's (Day 5) Hang Seng Index closing at 26,885.24 points, between Support 1 (26,231 points) and Resistance 1 (27,457 points), if it can stabilize above 27,000 points in the short term, there may be potential to test the 27,457-point resistance; if it falls back, attention should be paid to the strength of the defense at the 26,231-point support level. Further combining technical indicators such as moving averages and RSI, let’s analyze the logic behind the movements of 10 key blue-chip stocks, based purely on objective technical review: 1. $TENCENT (00700.HK)$ : Closed at 558.5 yuan (up 0.09%), stock price is below MA10, MA30, and MA60, RSI=24 (oversold), technical signal 'Buy' (strength 10), indicating a strong technical rebound signal. 2. $BABA-W (09988.HK)$ : Closed at 159.6 yuan (up 0.06%), stock price is below the three moving averages, RSI=45 (neutral), technical signal 'Neutral', showing平淡trend with no clear direction...
Based on the Hang Seng Index's closing at 26,885.24 points the previous day (5th), which lies between Support 1 (26,231 points) and Resistance 1 (27,457 points), if it can stabilize above 27,000 points in the short term, it may potentially test the resistance level of 27,457 points; otherwise, if it retreats, attention should be paid to the defensive strength of the support level at 26,231 points.
On February 5, $Hang Seng Index (800000.HK)$ The day closed at 26,885.24 points, up 0.14% for the day, with a turnover of 315.112 billion yuan and a 5-day volatility of 5.5%. From a technical indicator perspective, the RSI for the Hang Seng Index is 48, which is in the neutral zone. Multiple oscillation indicators are showing neutral signals, while indicators like MACD and Bollinger Bands are diverging. Overall market sentiment has not formed a clear direction, with rotation among individual sectors. Combined with the previous day's (Day 5) Hang Seng Index closing at 26,885.24 points, between Support 1 (26,231 points) and Resistance 1 (27,457 points), if it can stabilize above 27,000 points in the short term, there may be potential to test the 27,457-point resistance; if it falls back, attention should be paid to the strength of the defense at the 26,231-point support level. Further combining technical indicators such as moving averages and RSI, let’s analyze the logic behind the movements of 10 key blue-chip stocks, based purely on objective technical review: 1. $TENCENT (00700.HK)$ : Closed at 558.5 yuan (up 0.09%), stock price is below MA10, MA30, and MA60, RSI=24 (oversold), technical signal 'Buy' (strength 10), indicating a strong technical rebound signal. 2. $BABA-W (09988.HK)$ : Closed at 159.6 yuan (up 0.06%), stock price is below the three moving averages, RSI=45 (neutral), technical signal 'Neutral', showing平淡trend with no clear direction...
Further combining technical indicators such as moving averages and RSI, let’s analyze the logic behind the trends of 10 key blue-chip stocks with an objective technical review:
1. $TENCENT (00700.HK)$ : Closed at HKD 558.5 (up 0.09%), with the share price below MA10, MA30, and MA60. RSI = 24 (oversold), technical signal 'Buy' (strength 10), showing a clear technical rebound signal.
2. $BABA-W (09988.HK)$ : Closed at HKD 159.6 (up 0.06%), with the share price below all three moving averages, RSI = 45 (neutral), technical signal 'Neutral', showing a flat trend without a clear direction.
3. $MEITUAN-W (03690.HK)$ : Closed at HKD 93.8 (up 1.79%), with the share price below all three moving averages, RSI = 28 (oversold), technical signal 'Buy' (strength 11), indicating strong rebound momentum.
4. $CCB (00939.HK)$ : Closed at HKD 7.92 (up 0.51%), with the share price close to MA10 and MA30, but below MA60, RSI = 57, technical signal 'Sell' (strength 8), suggesting a softening trend.
5. $AIA (01299.HK)$ : Closed at HKD 88.4 (down 2.54%), with the share price near MA10, but above MA30 and MA60, RSI = 56, technical signal 'Sell' (strength 9), showing short-term weakness.
6. $HKEX (00388.HK)$ : Closed at HKD 414.4 (down 1.38%), with the share price below all three moving averages, RSI = 41 (neutral), technical signal 'Neutral' (strength 8), following market fluctuations.
7. $PING AN (02318.HK)$ : Closed at HKD 71.15 (down 1.25%), with the share price above MA10 and MA30, but below MA60, RSI = 56, technical signal 'Sell' (strength 10), showing weak technical patterns.
8. $HSBC HOLDINGS (00005.HK)$ : Closed at HKD 138.5 (down 0.36%), with the share price above all three moving averages, RSI = 67 (approaching overbought), technical signal 'Sell' (strength 11), watch for downward adjustment pressure.
9. $CHINA MOBILE (00941.HK)$ : Closed at 80.4 yuan (up 1.32%), stock price is above MA10 but below MA30 and MA60, RSI=45 (neutral), technical signal 'Neutral' (strength 9), trend balanced.
10. $BYD COMPANY (01211.HK)$ : Closed at 91.25 yuan (up 1.39%), stock price below all three moving averages, RSI=34 (oversold), technical signal 'Buy' (strength 11), strong rebound signal.
Sector Summary: On February 5, most tech stocks rebounded from oversold levels but failed to break through the moving averages; the strength of the rebound remains to be observed. Financial stocks were mostly weak, with technical signals mainly 'Sell' and 'Neutral,' indicating clear market divergence.
Review of Warrant and Bull/Bear Products:
The four Hang Seng Index-related products recommended on January 30, 2026, all achieved solid gains. Corresponding to the underlying Hang Seng Index falling by 2.02% two days later, the match with product trends was relatively high: $HS-HSI @EP2603A.P (20877.HK)$ Two-day increase of 46%, $BI-HSI @EP2603A.P (20720.HK)$ Two-day increase of 42%, $BI#HSI RP2803K.P (68550.HK)$ Two-day increase of 53%, $BI#HSI RP2803J.P (63388.HK)$ Two-day increase of 56%.
On February 5, $Hang Seng Index (800000.HK)$ The day closed at 26,885.24 points, up 0.14% for the day, with a turnover of 315.112 billion yuan and a 5-day volatility of 5.5%. From a technical indicator perspective, the RSI for the Hang Seng Index is 48, which is in the neutral zone. Multiple oscillation indicators are showing neutral signals, while indicators like MACD and Bollinger Bands are diverging. Overall market sentiment has not formed a clear direction, with rotation among individual sectors. Combined with the previous day's (Day 5) Hang Seng Index closing at 26,885.24 points, between Support 1 (26,231 points) and Resistance 1 (27,457 points), if it can stabilize above 27,000 points in the short term, there may be potential to test the 27,457-point resistance; if it falls back, attention should be paid to the strength of the defense at the 26,231-point support level. Further combining technical indicators such as moving averages and RSI, let’s analyze the logic behind the movements of 10 key blue-chip stocks, based purely on objective technical review: 1. $TENCENT (00700.HK)$ : Closed at 558.5 yuan (up 0.09%), stock price is below MA10, MA30, and MA60, RSI=24 (oversold), technical signal 'Buy' (strength 10), indicating a strong technical rebound signal. 2. $BABA-W (09988.HK)$ : Closed at 159.6 yuan (up 0.06%), stock price is below the three moving averages, RSI=45 (neutral), technical signal 'Neutral', showing平淡trend with no clear direction...
Reminder: Warrant and Bull/Bear products are derivatives with strong leverage attributes, where returns and risks coexist. The above review is purely a data recap and does not constitute any product recommendation. Investors should consider their risk tolerance carefully before selecting products.
Selected Warrants Products: Based on the volatile trend of the Hang Seng Index, two high-quality index-related warrants have been selected. Key focus is on core attributes such as premium and leverage, provided for technical analysis reference only:
1. $UB-HSI @EC2605B.C (23091.HK)$ : Leverage of 12.9 times, exercise price at 28,341 points; key feature is a relatively low premium, suitable for investors optimistic about a short-term rebound in the Hang Seng Index who seek reasonable leverage. Attention should be paid to resistance near the exercise price.
2. $BI-HSI @EP2605B.P (23127.HK)$ : Leverage of 11.2 times, exercise price at 24,875 points; key feature is ideal leverage and implied volatility, suitable for investors bearish on the short-term trend of the Hang Seng Index and willing to bear derivative risks. Monitor support levels nearby.
On February 5, $Hang Seng Index (800000.HK)$ The day closed at 26,885.24 points, up 0.14% for the day, with a turnover of 315.112 billion yuan and a 5-day volatility of 5.5%. From a technical indicator perspective, the RSI for the Hang Seng Index is 48, which is in the neutral zone. Multiple oscillation indicators are showing neutral signals, while indicators like MACD and Bollinger Bands are diverging. Overall market sentiment has not formed a clear direction, with rotation among individual sectors. Combined with the previous day's (Day 5) Hang Seng Index closing at 26,885.24 points, between Support 1 (26,231 points) and Resistance 1 (27,457 points), if it can stabilize above 27,000 points in the short term, there may be potential to test the 27,457-point resistance; if it falls back, attention should be paid to the strength of the defense at the 26,231-point support level. Further combining technical indicators such as moving averages and RSI, let’s analyze the logic behind the movements of 10 key blue-chip stocks, based purely on objective technical review: 1. $TENCENT (00700.HK)$ : Closed at 558.5 yuan (up 0.09%), stock price is below MA10, MA30, and MA60, RSI=24 (oversold), technical signal 'Buy' (strength 10), indicating a strong technical rebound signal. 2. $BABA-W (09988.HK)$ : Closed at 159.6 yuan (up 0.06%), stock price is below the three moving averages, RSI=45 (neutral), technical signal 'Neutral', showing平淡trend with no clear direction...
On February 5, $Hang Seng Index (800000.HK)$ The day closed at 26,885.24 points, up 0.14% for the day, with a turnover of 315.112 billion yuan and a 5-day volatility of 5.5%. From a technical indicator perspective, the RSI for the Hang Seng Index is 48, which is in the neutral zone. Multiple oscillation indicators are showing neutral signals, while indicators like MACD and Bollinger Bands are diverging. Overall market sentiment has not formed a clear direction, with rotation among individual sectors. Combined with the previous day's (Day 5) Hang Seng Index closing at 26,885.24 points, between Support 1 (26,231 points) and Resistance 1 (27,457 points), if it can stabilize above 27,000 points in the short term, there may be potential to test the 27,457-point resistance; if it falls back, attention should be paid to the strength of the defense at the 26,231-point support level. Further combining technical indicators such as moving averages and RSI, let’s analyze the logic behind the movements of 10 key blue-chip stocks, based purely on objective technical review: 1. $TENCENT (00700.HK)$ : Closed at 558.5 yuan (up 0.09%), stock price is below MA10, MA30, and MA60, RSI=24 (oversold), technical signal 'Buy' (strength 10), indicating a strong technical rebound signal. 2. $BABA-W (09988.HK)$ : Closed at 159.6 yuan (up 0.06%), stock price is below the three moving averages, RSI=45 (neutral), technical signal 'Neutral', showing平淡trend with no clear direction...
Reminder again: Derivatives investment carries higher risk; investors must fully understand the product characteristics, invest within their means, and avoid blindly following.
The Hang Seng Index closed slightly higher at 26,885 points yesterday (on the 5th). Do you think it will test the resistance level at 27,457 or the support level at 26,231 next?
Come to the comment section and share your thoughts! Want to see more analysis? Remember to follow 'HK Stock Warrants Jenny' for daily updates!
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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Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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