Has the rebound opportunity arrived? Hong Kong stocks welcome a strong start in May
The rebound momentum of the Hang Seng Index is weak, key resistance at 26,300 points
On the previous day (March 5th) $Hang Seng Index (800000.HK)$
The index closed at 25,321 points, recording a slight rebound with a daily increase of approximately 0.28%.
![On the previous day (March 5th) $Hang Seng Index (800000.HK)$ The index closed at 25,321 points, recording a slight rebound with a daily increase of approximately 0.28%. We 【Hong Kong Stock Report】[Share Link: March 5th [HKEX Podcast] - Hang Seng Index, CATL, Huaneng Power, JD.com, Baidu, Zijin Mining]In the analysis of the Hang Seng Index: although the index ended its decline, from the closing level, it remains below the lower band of the Bollinger Bands on the daily chart, showing that the rebound momentum is relatively limited and can only be regarded as an initial stabilization without significant upward breakout signals yet. From a technical perspective, the current support level for the Hang Seng Index is around 24,800 points, about 500 points away from the closing price; the resistance level is at the 26,300-point mark, a gap of about 1,000 points. If the index unfortunately breaks below the 24,800-point support, there is a higher chance of further testing 23,800 points; conversely, if it successfully breaks above the 26,300-point resistance, it may rise to test above 27,000 points.These key levels can serve as references for strategy deployment. $CATL (03750.HK)$$HUANENG POWER (00902.HK)$$JD-SW (09618.HK)$$BIDU-SW (09888.HK)$$ZIJIN MINING (02899.HK)$ It is worth noting that the Hang Seng Index has not shown clear buy signals. The core reason lies in the lack of volume to support the rebound. Trading volume has not significantly increased, and major trend indicators like MACD and Bollinger Bands are still in weak zones...](https://nnqimage.futunn.com/sns_client_feed/1162342/20260306/web-1772759197583-jfVikeAy2g.png/big?area=1&is_public=true&imageMogr2/ignore-error/1/format/webp)
We 【Hong Kong Stock Report】March 5th [HKEX Podcast] - Hang Seng Index, CATL, Huaneng Power, JD.com, Baidu, Zijin MiningIn the analysis of the Hang Seng Index: although the index ended its decline, from the closing level, it remains below the lower band of the Bollinger Bands on the daily chart, showing that the rebound momentum is relatively limited and can only be regarded as an initial stabilization without significant upward breakout signals yet. From a technical perspective, the current support level for the Hang Seng Index is around 24,800 points, about 500 points away from the closing price; the resistance level is at the 26,300-point mark, a gap of about 1,000 points. If the index unfortunately breaks below the 24,800-point support, there is a higher chance of further testing 23,800 points; conversely, if it successfully breaks above the 26,300-point resistance, it may rise to test above 27,000 points.These key levels can serve as a reference for deployment. $CATL (03750.HK)$$HUANENG POWER (00902.HK)$$JD-SW (09618.HK)$$BIDU-SW (09888.HK)$$ZIJIN MINING (02899.HK)$
It is worth noting that the Hang Seng Index has not shown a clear buy signal, primarily because the rebound lacks volume support. Trading volume has not significantly increased, and major trend indicators such as MACD and Bollinger Bands remain in weak zones, failing to form bullish resonance. Only the RSI, which is in the oversold zone, suggests short-term rebound potential but has yet to meet the confirmation conditions for a buy signal. This is also the core logic behind the Hang Seng Index’s continued lack of a clear buy signal.
![On the previous day (March 5th) $Hang Seng Index (800000.HK)$ The index closed at 25,321 points, recording a slight rebound with a daily increase of approximately 0.28%. We 【Hong Kong Stock Report】[Share Link: March 5th [HKEX Podcast] - Hang Seng Index, CATL, Huaneng Power, JD.com, Baidu, Zijin Mining]In the analysis of the Hang Seng Index: although the index ended its decline, from the closing level, it remains below the lower band of the Bollinger Bands on the daily chart, showing that the rebound momentum is relatively limited and can only be regarded as an initial stabilization without significant upward breakout signals yet. From a technical perspective, the current support level for the Hang Seng Index is around 24,800 points, about 500 points away from the closing price; the resistance level is at the 26,300-point mark, a gap of about 1,000 points. If the index unfortunately breaks below the 24,800-point support, there is a higher chance of further testing 23,800 points; conversely, if it successfully breaks above the 26,300-point resistance, it may rise to test above 27,000 points.These key levels can serve as references for strategy deployment. $CATL (03750.HK)$$HUANENG POWER (00902.HK)$$JD-SW (09618.HK)$$BIDU-SW (09888.HK)$$ZIJIN MINING (02899.HK)$ It is worth noting that the Hang Seng Index has not shown clear buy signals. The core reason lies in the lack of volume to support the rebound. Trading volume has not significantly increased, and major trend indicators like MACD and Bollinger Bands are still in weak zones...](https://nnqimage.futunn.com/sns_client_feed/1162342/20260306/web-1772759173043-BeinJfAW3d.png/big?area=1&is_public=true&imageMogr2/ignore-error/1/format/webp)
Blue chips showed mixed performance yesterday (5th), with overall volatility being minimal. Based on technical indicators, they can be divided into three categories, allowing investors to quickly identify their positions:
1. Oversold rebound category: represented by $TENCENT (00700.HK)$ 、 $BABA-W (09988.HK)$ Tencent, which closed at 502.00 yuan, down 0.79% for the day, with its closing price below all major moving averages and an RSI of 28 entering the oversold zone; Alibaba closed at 126.30 yuan, down 2.77% for the day, with an RSI of only 23 indicating extreme oversold conditions. Both stocks have issued buy signals based on comprehensive technical indicators, suggesting mature conditions for a technical rebound.
2. Resilient stability category: $HSBC HOLDINGS (00005.HK)$ 、 $CHINA MOBILE (00941.HK)$ 、 $CCB (00939.HK)$ HSBC, which closed at 133.90 yuan, up 2.37% for the day, with its closing price above MA30 and MA60, and an RSI of 48 trending towards neutrality; China Mobile closed flat at 78.30 yuan, with an RSI of 42, showing a strong buy signal. These stocks are supported by medium-term moving averages, exhibiting relatively stable trends.
3. Volatile divergence category: $AIA (01299.HK)$ 、 $ICBC (01398.HK)$ AIA, which closed at 85.10 yuan, surged 5.06% for the day, but its comprehensive technical signal remains a sell; ICBC closed at 6.36 yuan, up 0.32%, with an RSI of 50, leaning towards a sell signal, indicating a divergence between stock price and technical indicators, with short-term fluctuations expected to continue.
The market displayed four main characteristics yesterday (5th): first, strong oversold rebound signals, especially evident in new economy stocks; second, financial stocks remained relatively stable with strong resilience; third, technical divergence was common, with discrepancies between market sentiment and technical indicators; fourth, the market direction remains unclear, still in a weak bottom-seeking or volatile consolidation phase.
Overall, the market has preliminarily met the conditions for a technical oversold rebound after consecutive declines. However, the major trend indicators have not yet improved, and any rebound should be regarded as a correction of technical overselling. Its sustainability and magnitude need further observation.
Review and Selection of Warrant and Bull/Bear Products
Let’s first review the performance of the warrant products recommended earlier: those mentioned on February 27th $JP-HSI @EP2605A.P (22976.HK)$ 、 $BI-HSI @EP2606B.P (24183.HK)$ , which recorded increases of 56% and 48% respectively two days later, while the Hang Seng Index fell by 3.24%, aligning with market movements, serving as a reference for future positioning.
![On the previous day (March 5th) $Hang Seng Index (800000.HK)$ The index closed at 25,321 points, recording a slight rebound with a daily increase of approximately 0.28%. We 【Hong Kong Stock Report】[Share Link: March 5th [HKEX Podcast] - Hang Seng Index, CATL, Huaneng Power, JD.com, Baidu, Zijin Mining]In the analysis of the Hang Seng Index: although the index ended its decline, from the closing level, it remains below the lower band of the Bollinger Bands on the daily chart, showing that the rebound momentum is relatively limited and can only be regarded as an initial stabilization without significant upward breakout signals yet. From a technical perspective, the current support level for the Hang Seng Index is around 24,800 points, about 500 points away from the closing price; the resistance level is at the 26,300-point mark, a gap of about 1,000 points. If the index unfortunately breaks below the 24,800-point support, there is a higher chance of further testing 23,800 points; conversely, if it successfully breaks above the 26,300-point resistance, it may rise to test above 27,000 points.These key levels can serve as references for strategy deployment. $CATL (03750.HK)$$HUANENG POWER (00902.HK)$$JD-SW (09618.HK)$$BIDU-SW (09888.HK)$$ZIJIN MINING (02899.HK)$ It is worth noting that the Hang Seng Index has not shown clear buy signals. The core reason lies in the lack of volume to support the rebound. Trading volume has not significantly increased, and major trend indicators like MACD and Bollinger Bands are still in weak zones...](https://nnqimage.futunn.com/sns_client_feed/1162342/20260306/web-1772759224830-xVb9SfBwFV.png/big?area=1&is_public=true&imageMogr2/ignore-error/1/format/webp)
Two selected Hang Seng Index warrant products are now recommended, catering to different investor needs, and are provided for technical reference only:
1. $HS-HSI @EC2605B.C (23723.HK)$ ): Leverage of 15.6 times, strike price at 26,733 points, with the lowest premium and implied volatility, suitable for investors optimistic about a short-term rebound in the Hang Seng Index and seeking stability.
2. J.P. Morgan Put Warrant (22976): Leverage of 11.9 times, strike price at 23,400 points, with the lowest premium and relatively high leverage, suitable for investors who believe the Hang Seng Index's rebound will be weak and seek to hedge risks.
![On the previous day (March 5th) $Hang Seng Index (800000.HK)$ The index closed at 25,321 points, recording a slight rebound with a daily increase of approximately 0.28%. We 【Hong Kong Stock Report】[Share Link: March 5th [HKEX Podcast] - Hang Seng Index, CATL, Huaneng Power, JD.com, Baidu, Zijin Mining]In the analysis of the Hang Seng Index: although the index ended its decline, from the closing level, it remains below the lower band of the Bollinger Bands on the daily chart, showing that the rebound momentum is relatively limited and can only be regarded as an initial stabilization without significant upward breakout signals yet. From a technical perspective, the current support level for the Hang Seng Index is around 24,800 points, about 500 points away from the closing price; the resistance level is at the 26,300-point mark, a gap of about 1,000 points. If the index unfortunately breaks below the 24,800-point support, there is a higher chance of further testing 23,800 points; conversely, if it successfully breaks above the 26,300-point resistance, it may rise to test above 27,000 points.These key levels can serve as references for strategy deployment. $CATL (03750.HK)$$HUANENG POWER (00902.HK)$$JD-SW (09618.HK)$$BIDU-SW (09888.HK)$$ZIJIN MINING (02899.HK)$ It is worth noting that the Hang Seng Index has not shown clear buy signals. The core reason lies in the lack of volume to support the rebound. Trading volume has not significantly increased, and major trend indicators like MACD and Bollinger Bands are still in weak zones...](https://nnqimage.futunn.com/sns_client_feed/1162342/20260306/web-1772759237023-YnXrCWSQZc.png/big?area=1&is_public=true&imageMogr2/ignore-error/1/format/webp)
![On the previous day (March 5th) $Hang Seng Index (800000.HK)$ The index closed at 25,321 points, recording a slight rebound with a daily increase of approximately 0.28%. We 【Hong Kong Stock Report】[Share Link: March 5th [HKEX Podcast] - Hang Seng Index, CATL, Huaneng Power, JD.com, Baidu, Zijin Mining]In the analysis of the Hang Seng Index: although the index ended its decline, from the closing level, it remains below the lower band of the Bollinger Bands on the daily chart, showing that the rebound momentum is relatively limited and can only be regarded as an initial stabilization without significant upward breakout signals yet. From a technical perspective, the current support level for the Hang Seng Index is around 24,800 points, about 500 points away from the closing price; the resistance level is at the 26,300-point mark, a gap of about 1,000 points. If the index unfortunately breaks below the 24,800-point support, there is a higher chance of further testing 23,800 points; conversely, if it successfully breaks above the 26,300-point resistance, it may rise to test above 27,000 points.These key levels can serve as references for strategy deployment. $CATL (03750.HK)$$HUANENG POWER (00902.HK)$$JD-SW (09618.HK)$$BIDU-SW (09888.HK)$$ZIJIN MINING (02899.HK)$ It is worth noting that the Hang Seng Index has not shown clear buy signals. The core reason lies in the lack of volume to support the rebound. Trading volume has not significantly increased, and major trend indicators like MACD and Bollinger Bands are still in weak zones...](https://nnqimage.futunn.com/sns_client_feed/1162342/20260306/web-1772759237026-sCW8X1oR6I.png/big?area=1&is_public=true&imageMogr2/ignore-error/1/format/webp)
Risk Warning: Warrants are derivatives with significant leverage effects. Investors should deploy based on their risk tolerance and manage position sizes.
The Hang Seng Index has slightly rebounded; would you choose to reduce positions at higher levels or make a low-level layout? Feel free to share your insights in the comment section.
For more market analysis, stay tuned to Jenny's daily updates on 'Hong Kong Stock Warrants'!
Reminder: 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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