Morning Trend | POP MART approaches support with increased volume, is the weak range about to change?
On November 20th, at the close, POP MART (9992.HK) maintained a low level throughout the day, with continued pressure on the capital front. In the early trading phase, buying attempts tried to support the price, but were quickly countered by selling pressure, resulting in significant downward volume during the session, with the entire consumer sector following suit in weakness. The MACD death cross signal is a common sign of weakening, but yesterday's increased selling pressure reflects that some funds are accelerating their exit, and market risk aversion is continuously rising. Recently, the company has lacked new catalysts, and the secondary market has frequently switched trends, with limited overall highlights in consumer stocks, leading main funds to start switching to other sectors. In particular, the domestic transaction data released after the Double Eleven e-commerce promotion showed lackluster performance, and the recovery of consumer power has encountered obstacles, raising the wait-and-see sentiment among mainstream funds, resulting in a lack of sustained hotspots in the consumer sector. From a technical perspective, POP MART's stock price is approaching the lower Bollinger Band, with short-term indicators like RSI nearing the oversold zone, and the daily K-line has been continuously declining, reflecting weak willingness to support the price, with repeated fluctuations in the bottom consolidation range. It is important to be cautious; if there continues to be increased selling pressure during the session, the risk of inertia downward will be amplified, especially as the daily moving average and previous dense trading areas have not stabilized, making any chasing of rises or attempts to catch rebounds highly uncertain. Investors are advised to pay attention to changes in transaction structure and volume coordination; if there can be a reversal with increased volume and leading consumer stocks stabilize, there may be signs of structural repair. However, the current market is primarily defensive, and blindly bottom-fishing is not recommended
Technical Forecast·
