保險股關鍵轉折：中國人壽22.5元攻防全攻略

Core Viewpoint - China Life Insurance's stock price has shown significant volatility, currently at 22.65 HKD, down 2.37%, with various technical indicators suggesting potential upward and downward movements in the near term [2]. Technical Analysis - The stock price is currently above the 10-day moving average of 21.93 HKD, indicating a bullish formation, but the RSI at 78 suggests it is severely overbought, creating a technical divergence with sell signals from the Williams indicator [2]. - The MACD maintains a buy signal, but the shortening of the red momentum bars indicates a potential weakening of upward momentum [2]. - The Bollinger Bands are expanding, with the stock price closely following the upper band, reflecting increased short-term volatility risk, evidenced by a 10.4% 5-day amplitude [2]. - A critical support level is identified at 20.9 HKD, which combines the 30-day moving average and a psychological barrier; a breach could lead to a drop to the 18.8 HKD yearly line [2]. - The upper resistance level is at 24 HKD, and a breakthrough could challenge the previous high of 26.3 HKD [2]. - The Ichimoku Cloud shows a bullish arrangement, but the distance from the cloud indicates accumulating technical correction pressure [2]. - Divergence in momentum oscillators and sell signals from the VR ratio indicator suggest short-term adjustment risks [2]. Derivative Products Strategy - The Morley call option 28512 stands out with a leverage of 6.7 times and the lowest premium, with an exercise price set 7% below the current stock price of 20.93 HKD [5]. - The Morgan Stanley call option 29456 offers similar terms with a leverage of 6.5 times and a lower premium as an alternative [5]. - On the bearish side, the Bank of China put option 18645 is preferred for hedging downside risk, featuring a leverage of 5.1 times and the lowest premium [5]. - The Xinda put option 18677 has an exercise price of 18.28 HKD, with a leverage of 3.4 times and is 19.11% out of the money [5].