April 27 [Hong Kong Stock Podcast] Part-2-Sinopec, SMIC, Meituan

CNOOC (00883.HK) remains strong at higher levels, with 28.520 yuan being the first hurdle before breaking through 30 yuan

CNOOC's closing price on April 27 was 28.440 yuan, above the 5-day line at 27.496 yuan, the 10-day line at 27.030 yuan, the 20-day line at 27.270 yuan, the 30-day line at 27.973 yuan, and the 60-day line at 26.600 yuan, showing that the short-term trend is strong.

However, the stock price is approaching the high of 28.520 yuan and the upper Bollinger Band at 29.188 yuan, where upward resistance is starting to build. The Relative Strength Index (RSI) stands at 74.877, indicating an overheated level. This suggests the uptrend remains intact, but the short-term risk-reward ratio for entering new positions is not favorable.

Investors are asking if the price can rise to 30 yuan tomorrow. Based on the current technical position, to challenge 30 yuan, the stock must first break through 28.520 yuan, then surpass the upper Bollinger Band at 29.188 yuan, before having the conditions to test 30 yuan. If it fails to break through 28.520 yuan, the stock is more likely to consolidate at current highs in the short term.

For short-term strategies, 27.270 yuan is the watershed. As long as this level is maintained, the strong structure remains; if 27.270 yuan is breached, it is necessary to watch for support near 26.997 to 26.600 yuan. $BICNOOC@EC2607A.C (22522.HK)$$UB#CNOOCRC2810B.C (59937.HK)$$HS#CNOOCRC2807A.C (61829.HK)$$MBCNOOC@EC2606A.C (22470.HK)$

5. SMIC (00981) has surged close to resistance; 75 yuan requires breaking through the 69 to 72 yuan range first.

SMIC’s closing price on April 27 was 68.250 yuan, with a sharp short-term rise. The stock is now above its 5-day moving average at 62.080 yuan, 10-day MA at 60.675 yuan, 20-day MA at 57.280 yuan, 30-day MA at 57.982 yuan, and 60-day MA at 63.435 yuan, showing a clear strengthening trend.

However, the closing price on April 27 was already near the upper Bollinger Band at 66.076 yuan and approaching the previous resistance zone between 69 and 72 yuan. The short-term risk-reward ratio for entering new positions is not favorable. The RSI stands at 84.456, clearly overheated, meaning although the uptrend is strong, there is also a risk of short-term pullback or consolidation at higher levels.

Investors are asking when SMIC will reach 75 yuan again. Based on the current trend, SMIC needs to stabilize around 68 yuan first, then break through the resistance zone between 69 and 72 yuan, before having the potential to move towards 75 yuan. If it fails to effectively break through the immediate resistance, the stock is more likely to consolidate gains in the short term.

Some investors hold bull certificates with a stop-loss level at 56.2 yuan. Based on the closing price of 68.250 yuan on April 27, there is still a relatively safe distance from the stop-loss level. However, given that the RSI has risen to 84.456, short-term volatility risk has increased. If the stock falls below 66.076 yuan, caution is warranted as upward momentum may weaken.

For short-term strategies, SMIC should use 66.076 yuan as a short-term strength reference. If it holds above this level, the strong trend remains; a breakout above 69 to 72 yuan range would present an opportunity to further challenge 75 yuan. If it falls below 66.076 yuan, it is necessary to watch for support near 63.435 yuan and 62.080 yuan. $BI-SMIC@EC2609B.C (19343.HK)$$UB-SMIC@EC2610A.C (19562.HK)$$HS#SMIC RC2611C.C (57137.HK)$$SG#SMIC RC2611C.C (57077.HK)$

6. Meituan (03690) remains weak after consecutive declines; 80.409 yuan is the short-term defensive level.

Meituan's closing price on April 27 was HKD 81.850, below the 5-day line at HKD 83.620, the 10-day line at HKD 84.990, the 20-day line at HKD 85.120, and the 30-day line at HKD 83.302, indicating that the short-term trend remains weak. Although the closing price on April 27 was still above the lower Bollinger Band at HKD 80.409, it remained below the middle Bollinger Band at HKD 85.120, reflecting insufficient rebound momentum.

Investors are asking whether the consecutive days of decline indicate weakening. From a technical perspective, Meituan’s short-term trend has indeed weakened. The key lies in whether it can hold above HKD 80.409. If this level is maintained, there is still potential for a technical rebound; however, if it breaks below HKD 80.409, attention should be paid to a retest of support near HKD 79.422 or even HKD 73.600.

Regarding resistance levels above, the range between HKD 84.990 and HKD 85.120 represents the primary short-term resistance zone. Until prices regain this area, any rebound would still be considered a weak rebound and not confirm a reversal to strength.

For short-term strategies, Meituan-W should consider 80.409 yuan as the first support and 79.422 yuan as the next level of support; a recovery above 85.120 yuan would indicate an improvement in trend. $BIMTUAN@EP2612A.P (15409.HK)$$UBMTUAN@EP2612A.P (23001.HK)$$UB#MTUANRP2812M.P (57308.HK)$$JP#MTUANRP2809B.P (57768.HK)$

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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