Guosheng Securities pointed out that from the perspective of technical trend, the market rebounded after successively falling below the 5-day and 10-day moving average, and stood on the 10-day moving average again, but the capacity is insufficient, and it remains to be seen whether the short-term can stabilize. On the news, Premier Li Keqiang said that the state will further study and take various measures to reduce the cost of capital, such as RRR reduction and targeted RRR reduction, refinancing and rediscount. This is a concrete embodiment of “counter cyclical policy adjustment” and “loose capital”. It has a positive impact on the stock market and effectively hedges the pressure of “accelerated stock expansion”. On the whole, the fundamentals are still stable. The decline in the early stage of the market is mainly caused by the excessive interpretation of the fund reduction by the market. It belongs to the category of short-term technical adjustment, and the midline trend has not changed. The post trend still takes the 2900-2930 important technical support area as the reference standard for the midline trend. Before there is no effective break, maintain the existing bullish strategy.
(Securities Times)
