Hexun Investment Advisor Wang Zhenyu: ChiNext 50 surged unexpectedly in the afternoon, what's next tomorrow?

Will it drop again tomorrow? Wang Zhenyu, an investment advisor at Hexun, analyzes that the Shanghai Composite Index has tested the bottom three times in a row. Each time around 4050 points, it managed to bounce back. Is this level a strong bottom? The Sci-Tech Innovation Board 50 suddenly moved in the afternoon—could this be a key signal? What’s the next move?

Let’s look at the overall market. Yesterday, we mentioned that this week is mainly sideways consolidation. It’s possible that the index might dip to test the 60-day moving average at the open, then rebound after a quick pullback. Currently, the 60-day moving average is rising and forming an important support resonance with the 4050-point level—this is a critical technical level.

As for the Sci-Tech Innovation Board 50, it surged in the afternoon, forming a double bottom divergence on the 60-minute chart. This indicates that the downward momentum is weakening and a corrective rebound may occur. However, external risks remain. Brent crude oil has broken through $100, and regional disturbances continue, which will suppress risk appetite.

Therefore, my clear view is that in the short term, the market will continue to consolidate sideways, making it difficult to move higher in a main upward trend. Downward support strategies should be adopted, with dynamic position management based on spread trading—selling high and buying low.