技术面分析：当前金融科技ETF（159851）能否进场？

Core Viewpoint - The A-share market experienced fluctuations with all three major indices retreating after initial gains, while the financial technology sector saw a significant decline, with the CSI Financial Technology Index dropping over 2% and approaching its six-month line [1][3]. Market Performance - The A-share market recorded a trading volume of 2 trillion yuan, with the financial technology sector facing widespread losses, particularly in financial software stocks, which saw declines of over 8% for Shenzhou Information and over 4% for Ying Shisheng and Runhe Software [1]. - The popular ETF, the Financial Technology ETF (159851), opened lower and closed down 2.17% at 0.855 yuan, with a total trading volume of 520 million yuan and a net subscription of 169 million units on the day [1]. Technical Analysis - Technical indicators suggest potential buying points, with increased capital inflow. The Financial Technology ETF (159851) has tested the 0.852 yuan level twice, indicating a possible "W" bottom formation, with strong support expected at the six-month line [1]. Sector Analysis - Factors suppressing the financial technology sector include overall stagnation in the securities sector, a divergence between strong performance and market conditions, and negative news affecting key stocks like Zhina Compass [3]. - The current market trend is shifting towards traditional cyclical and dividend sectors, impacting the performance of technology growth stocks [3]. Future Outlook - Open Source Securities suggests that the A-share market is in a "slow bull" phase, with continued revaluation of sectors. They recommend focusing on internet brokerages and financial IT as key areas for investment [3]. - Non-bank financials are expected to benefit from the slow bull market, with potential for profit and valuation increases during the capital market upcycle [3]. Investment Recommendations - It is advised to pay attention to the Financial Technology ETF (159851) and its associated funds, which cover a wide range of themes including internet brokerages, financial IT, cross-border payments, AI applications, and Huawei's Harmony [4]. - The Financial Technology ETF (159851) has a scale exceeding 10 billion yuan and leads in liquidity among similar ETFs, with an average daily trading volume of 500 million yuan over the past month [4]. Sector Growth Potential - In the medium to long term, the growth of brokerage institutions and cross-border businesses is expected to enhance industry concentration, making it important to focus on leading brokerages with quick profit recovery and attractive valuations [5]. - Financial IT companies are anticipated to have significant profit elasticity in a bull market, with some companies likely to enjoy valuation premiums due to market share growth [5].