Morning Trend | Hisense H.A. under pressure, testing key line, has the short pressure been released?

On January 27th, Hisense H.A. (921.HK) faced pressure throughout the day, repeatedly testing the key support level of 21.11 yuan. The market saw moderate volume, with short positions continuing to be established, and the atmosphere in the consumer electronics sector remained dull, with major players generally on the sidelines. There is a vacuum of news regarding the fundamentals of the home appliance industry, with stable terminal sales but no blockbuster new products to drive growth. Some mainstream manufacturers are attempting to shift from exports to domestic sales, but market enthusiasm is limited. Investor trading activity is not high, inventory pressure exists, and overall investment logic is constrained, with only factors conducive to sectoral rebounds awaiting catalysts. From a technical perspective, indicators such as MACD and KDJ show weakness, with a clear short-term bearish structure. If there is an unusual increase in volume during the intraday decline, it may indicate quick intervention by major players; otherwise, the weakness is likely to continue. Caution is needed regarding potential panic selling that could lead to a temporary breakdown, as risk exposure has not been fully released. Current recommendations suggest that investors should focus on risk management in the short term and patiently wait for clear signals. If the bottom formation lacks volume support, a deeper decline cannot be ruled out