Morning Trend | CNGR weakly consolidates, is the buying interest about to become active?
CNGR continued to weakly consolidate near the low point of HKD 14.30 yesterday, with multiple attempts to rally during the day but to no avail. The popularity of the new materials sector has significantly cooled, and industry news has been sparse, with no major industrial collaborations or order announcements in recent days. The market remains skeptical about whether a high prosperity cycle can return. On the industry side, mainstream funds continue to observe, and the trading volume in the new materials sector significantly contracted yesterday, with extremely low market activity. Some short-term right-side traders have shifted their focus to technology and high-elasticity sectors, leading to significant internal trading differentiation within the sector and decreased interest in less popular directions. From a technical analysis perspective, the MACD and moving average indicators show a weak structure, with short-term price fluctuations constrained by trading volume. The KDJ and RSI occasionally signal technical oversold recoveries, but it remains difficult to break through the upper pressure. In each wave of rebound, selling pressure from funds has been quite evident, and there is a lack of mainstream buying during the low consolidation period. The trading community is generally focused on whether the low-level box can reverse, as a recovery in the market requires concentrated activation of bullish funds. If weak rebounds continue to face selling pressure, the risk of new lows still exists. It is recommended to pay attention to industry linkage and intraday volume changes, and to guard against the risk of misjudgment caused by blind low buying
CNGR continued to weakly consolidate near the low point of HKD 14.30 yesterday, with multiple attempts to rally during the day but to no avail. The popularity of the new materials sector has significantly cooled, and industry news has been relatively sparse, with no major industrial collaborations or order announcements in recent days. The market as a whole remains skeptical about whether a high prosperity cycle can return.
On the industry side, mainstream funds continue to observe, and the trading volume in the new materials sector significantly contracted yesterday, with the market extremely sluggish. Some short-term right-side traders have shifted their attention to technology and high-elasticity sectors, leading to significant differentiation in trading within the sector and a decreased interest in less popular directions.
From a technical analysis perspective, the MACD and moving average indicators show a weak structure, with short-term price fluctuations constrained by trading volume. The KDJ and RSI occasionally show technical oversold recovery signals, but it remains difficult to break through the upper pressure. In each wave of rebound, selling pressure from funds has been quite evident, and there is a lack of mainstream buying during the low consolidation period.
The trading community is generally focused on whether the low-level box can reverse, as a recovery trend requires concentrated activation of bullish funds. If weak rebounds continue to encounter selling pressure, the risk of new lows still exists. It is recommended to pay attention to industry linkage and intraday volume changes, and to guard against the risk of misjudgment caused by blind low buying
