關鍵位分析：中芯面臨72.2元阻力與65.4元支持的考驗

Core Viewpoint - Semiconductor company SMIC (00981) is currently facing a critical technical level with its stock price trading at 69.2 HKD, which is close to the 10-day moving average of 68.45 HKD but significantly below the 30-day and 60-day moving averages of 72.92 HKD and 73.49 HKD respectively, indicating ongoing downward pressure in the medium term [1] Technical Analysis - The stock price is at a pivotal point, with mixed signals from various technical indicators. While several trend indicators like MACD suggest a "sell" signal, momentum oscillators indicate a "buy" signal, suggesting a potential shift in market dynamics [1] - Key resistance levels are identified at 72.2 HKD and 75.8 HKD, while critical support levels are at 65.4 HKD and a stronger support zone at 61 HKD [1] Derivative Market Movements - On December 1, when SMIC's stock fell by 3.24%, related bearish instruments performed strongly, with HSBC's bear certificate (54968) and Societe Generale's bear certificate (64686) recording gains of 20% and 19% respectively within two days, demonstrating the amplified volatility of high-leverage bearish instruments [3] - For investors anticipating a rebound based on positive technical signals, options like the low-premium call options from various issuers are recommended, including the call option from Credit Agricole (20112) and the bull certificates from Credit Agricole (68602) and Societe Generale (60840) [6] Bearish Strategies - If the adjustment is believed to be ongoing, bearish instruments also present clear pathways, with options like the put option from Bank of China (21097) offering high leverage, and HSBC's put option (21473) being considered ideal for its leverage and implied volatility [8] Market Sentiment - The current market sentiment is characterized by a mix of bullish and bearish indicators, prompting investors to decide whether to position for a rebound based on positive signals or to wait for clearer trends before following the market direction [12]