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港股窩輪Jenny
joined discussion · Mar 17 14:54

Zijin Mining Technical Analysis: 35.8 yuan support and 41 yuan resistance levels are key short-term factors

$ZIJIN MINING (02899.HK)$ Zijin Mining (02899.HK) has recently shown an oversold rebound pattern, becoming a market focus. As of March 17, 2026, Zijin Mining closed at 37.04 yuan, up 0.16%, with an intraday high of 38.08 yuan. The share price fell from its early March peak, hitting a low near 36 yuan before gradually recovering.
Technical Analysis
From the chart trend, Zijin Mining's share price rebounded from a low of 31.2 yuan and has gradually recovered, showing technical repair recently. According to technical data as of March 17, the first support level for Zijin Mining is around 35.8 yuan, which corresponds to the previous consolidation platform; the more critical second support level is at 31.2 yuan, equivalent to the local low in early March. On the resistance side, the first resistance level is at 41 yuan, and if it breaks through, the next resistance level will be 44.1 yuan.
In terms of technical indicators, the overall signal is 'Strong Buy,' with 14 buy signals identified. The RSI is at 40, multiple oscillation indicators show buy signals, and both the Williams %R and Stochastic Oscillator have issued buy signals. The CCI indicator also suggests buying. Meanwhile, the Rate of Change (ROC) indicator shows a strong signal of 'oversold, potential bottoming, buy,' reflecting that conditions for a short-term rebound are brewing. However, trend-following indicators like Ichimoku Cloud, MACD, and Bollinger Bands still indicate selling, confirming that the medium-term trend has not fully reversed. Overall, current technical signals suggest an 'early stage of oversold rebound' pattern, with potential for further short-term recovery, but attention should be paid to the pressure from the 41 yuan resistance level.
$ZIJIN MINING (02899.HK)$ Zijin Mining (02899.HK) has recently shown an oversold rebound pattern, becoming a market focus. As of March 17, 2026, Zijin Mining closed at 37.04 yuan, up 0.16%, with an intraday high of 38.08 yuan. The share price fell from its early March peak, hitting a low near 36 yuan before gradually recovering. Technical Analysis From the chart trend, Zijin Mining's share price rebounded from a low of 31.2 yuan and has gradually recovered, showing technical repair recently. According to technical data as of March 17, the first support level for Zijin Mining is around 35.8 yuan, which corresponds to the previous consolidation platform; the more critical second support level is at 31.2 yuan, equivalent to the local low in early March. On the resistance side, the first resistance level is at 41 yuan, and if it breaks through, the next resistance level will be 44.1 yuan. In terms of technical indicators, the overall signal is a 'strong buy,' with 14 buy signals. The RSI is at 40, and multiple oscillation indicators show buy signals. Both the Williams %R and Stochastic Oscillator have issued buy signals, and the CCI indicator also shows a buy. Meanwhile, the Rate of Change (ROC) indicates a 'sharp decline, possible bottom formation, buy' strong signal, reflecting that conditions for a short-term rebound are brewing. However, trend-following indicators like Ichimoku Cloud, MACD, and Bollinger Bands still indicate sell, confirming that the medium-term trend has not fully reversed. Overall, the current technical signals present an 'oversold...'
Market News Integration
In terms of news, positive factors for Zijin Mining have emerged. JPMorgan issued a report stating that their constructive view on gold and copper stocks remains unchanged. Amid market corrections, Zijin Mining is their top pick. JPMorgan also named Aluminum Corporation of China, China Hongqiao, and Zijin Mining as their preferred picks in China's basic materials sector.
In terms of business expansion, Fujian Zijin Mining Yinsan Dual-Circulation Equity Investment Fund Partnership (Limited Partnership) was officially established in Jimei recently, with a fund size of 280 million yuan, focusing on hard technology sectors such as new materials, new energy, and mining technology. The fund was jointly established by Jimei Industrial Investment Fund, Fujian Specialized and Leading Venture Capital Mother Fund, Xiamen Jinyuan Zhanhong Phase II Fund, and Zijin Mining Investment (Shanghai) Co., Ltd., promoting technological upgrades and supply chain integration through 'capital synergy + industry focus'.
On the capital front, the margin balance for Zijin Mining A-shares has increased for three consecutive days, reaching 12.968 billion yuan as of March 16, up 2.26% from the previous period, with net margin purchases amounting to 286 million yuan, ranking first in the non-ferrous metals industry. However, over the past five days, the stock’s capital flow has been negative, lower than the industry average, with a total outflow of about 3.835 billion yuan. For the Hong Kong-listed shares, main capital inflow amounted to 244 million yuan, with large orders buying 624 million yuan.
Review of Warrant Products
Regarding the review of warrant products, multiple Zijin Mining-related derivatives mentioned on March 12, 2026, recorded significant performance in the following two trading days (as of March 16). During this period, Zijin Mining's underlying stock fell by 6.90%, while related bearish products fully demonstrated leverage effects: UBS Group's bear certificate (55211) performed most prominently, surging by 47%, and JPMorgan's put warrant (25363) also rose by 10%.
$ZIJIN MINING (02899.HK)$ Zijin Mining (02899.HK) has recently shown an oversold rebound pattern, becoming a market focus. As of March 17, 2026, Zijin Mining closed at 37.04 yuan, up 0.16%, with an intraday high of 38.08 yuan. The share price fell from its early March peak, hitting a low near 36 yuan before gradually recovering. Technical Analysis From the chart trend, Zijin Mining's share price rebounded from a low of 31.2 yuan and has gradually recovered, showing technical repair recently. According to technical data as of March 17, the first support level for Zijin Mining is around 35.8 yuan, which corresponds to the previous consolidation platform; the more critical second support level is at 31.2 yuan, equivalent to the local low in early March. On the resistance side, the first resistance level is at 41 yuan, and if it breaks through, the next resistance level will be 44.1 yuan. In terms of technical indicators, the overall signal is a 'strong buy,' with 14 buy signals. The RSI is at 40, and multiple oscillation indicators show buy signals. Both the Williams %R and Stochastic Oscillator have issued buy signals, and the CCI indicator also shows a buy. Meanwhile, the Rate of Change (ROC) indicates a 'sharp decline, possible bottom formation, buy' strong signal, reflecting that conditions for a short-term rebound are brewing. However, trend-following indicators like Ichimoku Cloud, MACD, and Bollinger Bands still indicate sell, confirming that the medium-term trend has not fully reversed. Overall, the current technical signals present an 'oversold...'
Warrant product recommendations and comparisons
With Zijin Mining currently trading at 37.44 yuan, alongside support levels at 35.8 yuan and 31.2 yuan, and resistance levels at 41 yuan and 44.1 yuan, investors can choose suitable products based on their own views.
For bullish strategies, one may consider JPMorgan’s call warrant (21144) with an exercise price of 43.99 yuan, offering about 7.8 times leverage. The key advantage of this product is that its leverage is the highest among similar offerings, suitable for aggressive investors seeking higher leverage. Based on the current share price, the out-of-the-money level is approximately 17.5%, which is some distance away from the first resistance level at 41 yuan and the second resistance level at 44.1 yuan, making it suitable for investors expecting the share price to break through 44.1 yuan.
For bull certificates, one may consider UBS Group's bull certificate (62297) with a stop-loss price of 33 yuan and actual leverage of 7.1 times; this product has the lowest premium and relatively high actual leverage. Another option is HSBC's bull certificate (64068) with a stop-loss price of 33 yuan and actual leverage of 6.7 times, with relatively low premiums. When selecting bull certificates, it’s important to ensure that the stop-loss price is below the support levels at 35.8 yuan and 31.2 yuan to provide sufficient safety buffer. The stop-loss price of 33 yuan is below the first support level of 35.8 yuan, providing ample safety margin, making it suitable for investors who are optimistic about the future market outlook.
Two selected bullish products:
- JPMorgan Call Warrant (21144) $MSZIJIN@EC2605A.C (21144.HK)$ : Leverage is as high as 7.8 times, making it an ideal choice for bullish strategies seeking high leverage.
- UBS Bull Certificate (62297) $UB#ZIJINRC2610C.C (62297.HK)$ With an actual leverage of 7.1 times, a recovery price of 33 yuan provides sufficient safety margin, and the lowest premium offers good cost-effectiveness.
$ZIJIN MINING (02899.HK)$ Zijin Mining (02899.HK) has recently shown an oversold rebound pattern, becoming a market focus. As of March 17, 2026, Zijin Mining closed at 37.04 yuan, up 0.16%, with an intraday high of 38.08 yuan. The share price fell from its early March peak, hitting a low near 36 yuan before gradually recovering. Technical Analysis From the chart trend, Zijin Mining's share price rebounded from a low of 31.2 yuan and has gradually recovered, showing technical repair recently. According to technical data as of March 17, the first support level for Zijin Mining is around 35.8 yuan, which corresponds to the previous consolidation platform; the more critical second support level is at 31.2 yuan, equivalent to the local low in early March. On the resistance side, the first resistance level is at 41 yuan, and if it breaks through, the next resistance level will be 44.1 yuan. In terms of technical indicators, the overall signal is a 'strong buy,' with 14 buy signals. The RSI is at 40, and multiple oscillation indicators show buy signals. Both the Williams %R and Stochastic Oscillator have issued buy signals, and the CCI indicator also shows a buy. Meanwhile, the Rate of Change (ROC) indicates a 'sharp decline, possible bottom formation, buy' strong signal, reflecting that conditions for a short-term rebound are brewing. However, trend-following indicators like Ichimoku Cloud, MACD, and Bollinger Bands still indicate sell, confirming that the medium-term trend has not fully reversed. Overall, the current technical signals present an 'oversold...'
For bearish strategies, the put warrant from JPMorgan (25363) with an exercise price of 42.88 yuan and leverage of 1.4 times can be considered. This product has the highest leverage and is suitable for bearish positioning. When selecting put warrants, note that the exercise price of 42.88 yuan is higher than the current stock price, making it an in-the-money product. If the stock price remains constrained by resistance at 41 yuan, this type of product will perform relatively well.
For bear certificates, one may consider UBS Group's bear certificate (55211) with a recovery price of 44 yuan and an actual leverage of 5.6 times, making it the product with the lowest premium. A review of warrant products shows that the UBS Group bear certificate (55211), deployed on March 12, recorded a 47% increase when the underlying stock fell, demonstrating significant leverage effects. When choosing bear certificates, ensure that the recovery price is above resistance levels of 41 yuan and 44.1 yuan. A recovery price of 44 yuan is slightly below the second resistance level of 44.1 yuan, making it a close-to-the-market choice suitable for investors expecting the stock price to encounter resistance at 41 yuan and retreat. However, caution is needed if the stock price breaks through 44.1 yuan, as there will be a risk of recovery.
Two selected bearish products:
- JPMorgan Put Warrant (25363) $JPZIJIN@EP2706A.P (25363.HK)$ : Highest leverage, making it an ideal choice in terms for bearish deployment.
- UBS Bear Certificate (55211) $UB#ZIJINRP2812H.P (55211.HK)$ : Actual leverage of 5.6 times, lowest premium, and previously recorded a 47% gain on March 12, showing outstanding performance.
Overall, Zijin Mining's share price is currently in an oversold rebound phase. The key level of 37 yuan has been successfully reclaimed, and the resistance at 41 yuan will determine the short-term trend. Fundamentally, positive factors are concentrated, including JPMorgan listing it as a top pick, industry funds deploying in new materials and renewable energy, and continuous growth in margin financing balances. However, the outflow of funds over the past five days still needs attention. Investors should strictly control risks when deploying, choose appropriate derivative instruments based on key support levels of 35.8 yuan and 31.2 yuan, resistance levels of 41 yuan and 44.1 yuan, and pay attention to the impact of out-of-the-money levels on product performance.
Interactive Question:
What do you readers think about the short-term outlook for Zijin Mining (02899)?
A) Breaking through the resistance at 41 yuan, further testing up to 44.1 yuan
B) Consolidating with fluctuations between 37 yuan and 41 yuan
C) Weak rebound, retesting support levels at 35.8 yuan or even 31.2 yuan
Feel free to share your views in the comment section!
Friendly 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 combine other data and should not solely rely on this article to make trading decisions. Please note that past performance is not indicative of future results. Follow Jenny's insights on Hong Kong stock warrants for more professional analysis.
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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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