上市首月的盘面艺术：旺山旺水-B从“断崖式暴跌”到“V型反转”？

Core Viewpoint - The extreme drop in the stock price of Wangshan Wangshui-B (02630) from HKD 97 to HKD 51, a nearly 50% decline, is seen as a recalibration of market order rather than the end of the story, leading to a clear double W bottom formation and subsequent upward trend [1] Phase 1: Panic Sell-off and Liquidity Crisis - From November 6 to November 12, the newly listed Wangshan Wangshui experienced a rapid decline of 44.37%, dropping from HKD 97 to HKD 51, which is still approximately 70% above the issue price of HKD 33.37, indicating that the drop was more about eliminating irrational early-stage bubbles [2] - The total trading volume during this period was 7.8622 million shares, with a 94.9% bearish volume ratio, suggesting that almost all liquid shares underwent a turnover, providing a solid foundation for new institutional investors [2][3] Phase 2: Double W Bottom Formation and Shift in Market Sentiment - From November 13 to November 21, the market quickly organized a rebound, forming a right bottom at HKD 52.55, which is higher than the left bottom at HKD 51, confirming the area as an effective low point [4] - The bullish volume reached 974,200 shares, surpassing the bearish volume of 846,400 shares for the first time since the drop, indicating a fundamental shift in market sentiment [4] Phase 3: Main Uptrend Breakthrough and Self-Reinforcing Trend - From November 24 to December 2, the stock price surged from HKD 59.85 to HKD 79.3, a 31.42% increase, successfully breaking through the neck line at HKD 74, indicating a strong bullish trend [6] - The low turnover rate of 1.13% during this period suggests that circulating shares were highly locked, indicating strong control by the main force [6] Phase 4: Healthy Consolidation and Technical Confirmation Post Main Uptrend - From December 3 to December 11, the stock price corrected from a high of HKD 79.3 to a low of HKD 70.5, resulting in a 7.80% decline, which is considered a healthy adjustment rather than a trend reversal [8] - The total trading volume of 962,440 shares during this period was slightly higher than during the main uptrend, indicating a typical "pullback with volume" phenomenon, while the 1.44% turnover rate suggests good locking of shares despite the adjustment [10][11]