Core Viewpoint - The Hong Kong stock market is experiencing volatility, with Hong Kong Exchanges and Clearing Limited (HKEX) trading at 390.6 HKD, down 1.91%. The stock is currently in a sideways movement above the midline on the daily chart, while the weekly chart shows a positive trend with seven consecutive weeks of gains, nearing the upper Bollinger Band at 400.65 HKD [1]. Technical Analysis - The current price of HKEX is at a critical divergence point, with multiple moving averages indicating a "strong buy" signal. However, the RSI has reached 77, indicating an overbought condition, and there is significant pressure at the upper Bollinger Band [1]. - Key support has shifted from resistance at 380 HKD to a strong support level, while the next target for bulls is the range of 406-415 HKD [1]. - Market participants are particularly focused on the 400 HKD level, with some considering short positions at this price point [2]. Derivative Products - In the options market, various call options are available, such as the Morgan Stanley call option (13652) with a leverage of 7.9 times and a strike price of 450.2 HKD, suitable for investors optimistic about breaking this price level. Another option, the Barclays call option (27807), offers 8.7 times leverage with a strike price of 450 HKD, noted for its cost-effectiveness [4]. - For bearish investors, Citigroup's put option (16606) provides 8.4 times leverage with a strike price of 333.9 HKD, while Morgan Stanley's put option (16907) offers 8.2 times leverage with a strike price of 333.68 HKD [4]. Market Sentiment - The market sentiment remains bullish, with investors closely monitoring the performance of HKEX as it approaches the 400 HKD resistance level. The trading strategies often involve gradually exiting positions as the stock price rises or deploying derivatives when reaching significant price points [2]. - Notably, when HKEX shares rose by 1.76%, related bullish derivative products performed exceptionally well, with notable increases of 36% for the Societe Generale bull certificate (54739) and 31% for the UBS bull certificate (54530) [2].

Core Viewpoint - China Life Insurance (02628) is experiencing a strong upward trend in its stock price, with a current price of 16.04 HKD and a daily increase of 1.78%, supported by multiple technical indicators signaling a "strong buy" despite being in an overbought state [1][4]. Technical Analysis - The technical indicators for China Life show a strong bullish pattern, with several moving averages indicating buy signals: MA10 at 15.79 HKD, MA30 at 14.72 HKD, and MA60 at 15.08 HKD, with the current price above these averages [1]. - The RSI index is at 66, indicating an overbought condition, while the William's indicator also signals a buy. Other indicators like ADX, psychological line, and momentum oscillators support a bullish outlook, although the overbought status suggests potential short-term pullback risks [1]. Support and Resistance Levels - The first short-term support level is at 15.4 HKD, with a second support level at 14.5 HKD if the price retraces. The first resistance level is at 16.5 HKD, and if this is breached, the stock could challenge the second resistance level at 17 HKD [4]. Product Performance - Recent performance of related derivative products has been strong, with products mentioned on May 22 showing a 6% increase within two days, highlighting the leverage effect of warrants and bull/bear certificates in a rising stock market [4]. Investment Products - For warrants, Citibank's call option (25498) has a high leverage with an exercise price of 16.9 HKD, suitable for investors expecting a breakout above 16.5 HKD. Morgan Stanley's call option (25657) offers a leverage of 11.4 times, appealing to aggressive investors [7]. - In terms of bear certificates, Citibank's bear certificate (57271) has a redemption price of 17.5 HKD and is suitable for short-term hedging, while UBS's bear certificate (57555) has a redemption price of 17.6 HKD, offering high leverage but with caution advised due to the resistance level at 16.5 HKD [7][8].

Core Viewpoint - China COSCO Shipping Holdings (中遠海控) is currently in a strong upward trend, supported by various technical indicators, but there are signs of overbought conditions that suggest caution for investors when chasing higher prices [1][6]. Technical Analysis - The stock closed at HKD 14.94 with a daily increase of 0.54%, and a trading volume of HKD 677 million, indicating a continuation of its bullish trend [1]. - Short-term support levels are at HKD 12.5 and HKD 13.7, while resistance levels are at HKD 15.5 and HKD 17. The current price is close to the first resistance level, and a successful breakout could lead to higher levels [3]. - The moving averages for 10-day, 30-day, and 60-day are HKD 14.28, HKD 12.44, and HKD 12.2 respectively, with the current price significantly above these averages, indicating a bullish arrangement [3]. - The overall technical signal is a "strong buy" with a strength rating of 18 points, suggesting that most technical models agree on the continuation of the upward trend [5]. Overbought Indicators - The RSI index is at 80, indicating a strong buying momentum but also potential risks due to overbought conditions. Other indicators like the Williams and CCI are also in the overbought zone, suggesting short-term pressure or corrections may occur [5]. - The stochastic oscillator shows a sell signal, while the ADX indicator is neutral, indicating that the trend remains valid but may require new catalysts for further acceleration [5]. - Additional indicators such as the psychological line and volatility indicators lean towards sell signals, reflecting a potential market sentiment overheating [5]. Overall Summary - China COSCO Shipping Holdings is in a strong upward channel, with most technical indicators supporting further upward potential. However, the continuous rise and multiple overbought signals increase short-term risks. Investors are advised to maintain a bullish outlook while setting appropriate risk control points to avoid profit-taking due to market sentiment reversals [6].

Core Viewpoint - Great Wall Motors (02333) has shown a strengthening trend, with a recent stock price increase of 2.10% to HKD 12.62, indicating potential bullish momentum in the market [1]. Technical Analysis - The stock price has successfully broken through the MA10 (HKD 12.36) and MA30 (HKD 11.94), forming a bullish alignment, while the MACD indicator has issued a buy signal [1]. - The Bollinger Bands are expanding, suggesting an increase in upward momentum, although the RSI at 55 indicates a neutral zone, and other indicators show overbought conditions, hinting at possible short-term volatility [1]. - The stock is facing a key resistance level at HKD 13.3, with a potential challenge to the yearly high of HKD 13.9. Important support levels are at HKD 12.1 and a stronger support at HKD 11.7 [2]. Trading Opportunities - For investors optimistic about Great Wall Motors' breakout, options include the JPMorgan call warrant (15880) with a leverage of 4.7 times and an exercise price of HKD 14.9, which has a relatively low implied volatility [2]. - Another option is the credit warrant (13639) with a leverage of 4.9 times and an exercise price of HKD 14.88, noted for its lowest premium and implied volatility among similar products, offering better cost-effectiveness [2]. - Products expiring in November, such as UBS call warrant (13608) and JPMorgan call warrant (14482), with an exercise price of HKD 18.82 and effective leverage of 4.5 times, have shown a recent increase of 9.52% [3].

Group 1 - Xiaomi's stock price is currently fluctuating around 54.45 HKD, with technical indicators showing mixed signals [1] - As of 9:55 AM, Xiaomi's stock price was at 54.55 HKD, a slight increase of 0.18%, with resistance at 56 HKD and support at 50.4 HKD [1] - The MACD and Ichimoku indicators are signaling a buy, while the RSI is at 66, nearing the overbought zone, and the Williams indicator shows a sell warning [1] Group 2 - On May 19, when Xiaomi's stock rose by 4.01%, related derivatives performed strongly, with the Morgan Stanley call option (14642) surging by 22% [3] - UBS bull certificates (66801) and call options (14991) increased by 19% and 18% respectively, while Morgan Stanley bull certificates (67102) also rose by 18% [3] - This data highlights the leverage effect of derivatives in high volatility markets, particularly call options [3] Group 3 - For investors optimistic about Xiaomi breaking the 56 HKD resistance, several high-leverage products are available, including UBS call options (14991) with a leverage of 4.8 times [5] - HSBC call options (15392) follow closely with a leverage of 4.7 times, while Morgan Stanley bull certificates (55982) offer a leverage of 6.7 times with an attractive premium level [5] - Morgan Stanley bull certificates (55750) have a lower recovery price of 46 HKD but provide a leverage of 5.6 times, suitable for aggressive investors [5] Group 4 - For bearish expectations, HSBC put options (14333) and Morgan Stanley put options (14322) offer leverage of 2.3 times and 2.4 times respectively, both with a strike price of 46.45 HKD [8] - Among bear certificates, UBS bear certificates (56421) provide a leverage of 8.8 times with a recovery price of 61 HKD, while Societe Generale bear certificates (56288) offer 9.4 times leverage with a recovery price of 60.5 HKD, suitable for short-term trading [8] Group 5 - Investors can choose based on their risk preferences: conservative investors may consider out-of-the-money call options, balanced investors may opt for medium-leverage bull certificates, and aggressive investors may select high-leverage bear certificates for short-term trades [11] - Regardless of market position, strict position control and clear stop-loss points are recommended [11]

今日上午11點50分，平保(02318)盤中表現穩健，最新報46.7元，上漲0.65%，股價逼近日線圖的保利加通道頂部47.57元。同時周線圖的保利加通道頂部在 48.57元。 從技術面來看，10日均線(47.04元)與30日均線(45.33元)形成黃金交叉，MACD指標發出買入信號，但動能略顯溫和。RSI處於55的中性水平，顯示股價仍有 上行空間。關鍵支持位在44.9元（支持1）和44元（支持2），上方阻力則看48.4元（阻力1）和49.4元（阻力2）。 窩輪市場上，有投資者表示從周線和日k線上看是買入時機，後續會持續上漲，等50元再賣出。不過有看淡的投資者則認為站不穩55元，走勢仍弱勢。 回顧5月19日表現，平保相關衍生品表現亮眼。當日正股上漲2.19%，法巴認購證15999大漲16%，摩通牛證53834也有15%升幅，跑贏正股表現。 窩輪產品精選 現階段的窩輪選擇上，可關注花旗認購證13225，行使價49.93元，提供13.4倍槓桿，其最大優勢是溢價及引伸波幅均屬市場最低；摩利認購證15639則提供 12.9倍槓桿，行使價同樣為49.93元，引伸波幅較為理想。看跌方向的可考慮摩通認沽證28028和瑞銀認 ...

Group 1 - The current market sentiment for Hong Kong Exchanges and Clearing (HKEX) is optimistic, with investors speculating whether the stock price can break through the resistance level of 391 HKD or will consolidate at current levels [2] - Technical indicators show a bullish trend, with the 10-day moving average (376.06 HKD) crossing above the 30-day moving average (345.83 HKD), indicating a golden cross. However, the RSI is at 67, nearing overbought territory, suggesting potential for a technical adjustment [2] - Key support levels are identified at 357 HKD (Support 1) and 333 HKD (Support 2), while resistance levels are at 391 HKD (Resistance 1) and 414 HKD (Resistance 2) [2] Group 2 - In the current market, specific warrants are highlighted, such as HSBC call warrant 29943 with a strike price of 390.19 HKD offering 7.9 times leverage, and Societe Generale call warrant 13399 also at a strike price of 390.19 HKD with 8.3 times leverage [4] - For put warrants, the recommended options include the Citigroup put warrant 16606 with a strike price of 333.9 HKD and 7.3 times leverage, and the Credit Suisse put warrant 15262 with a strike price of 333.88 HKD and 6.7 times leverage [4] Group 3 - On May 15, HKEX-related bull certificates performed well, with the underlying stock rising by 0.48%. The bull certificates from Societe Generale (53641) and HSBC (69781) recorded an 8% increase, outperforming the underlying stock [6] Group 4 - Bull certificates such as JPMorgan's 53236 offer 8.7 times actual leverage with a redemption price of 340 HKD, providing about a 10% margin of safety. UBS's 69265 offers 10 times leverage with a redemption price of 345 HKD [8] - For bear certificates, JPMorgan's 52629 and UBS's 52543 provide high leverage of 17.6 times and 16.1 times respectively, with a redemption price of 400 HKD, offering approximately 5.5% buffer space [8] Group 5 - It is noted that HKEX's stock price is closely related to market trading volume, indicating that investors should pay attention to changes in market activity when trading derivatives [11]

Group 1 - Zijin Mining (02899) has shown strong performance recently, with a stock price increase of 7.58% to HKD 18.52, indicating a potential upward trend [1] - The stock has broken through the Bollinger Bands upper limit at HKD 17.97, reaching an intraday high of HKD 18.54, suggesting a bullish momentum [1] - Technical indicators are signaling a strong buy, with 19 buy signals, 7 neutral signals, and 2 sell signals, indicating a robust bullish sentiment [3] Group 2 - Current stock price is hovering around HKD 18.24, with resistance levels at HKD 18.6 and HKD 19.1, while support levels are at HKD 17.5 and HKD 17.3 [4] - If trading volume maintains around HKD 788 million, the probability of a short-term price increase is estimated at 53% [4] - Recent performance of warrants linked to the stock has shown significant gains, with HSBC and UBS call warrants rising by 34% and 33% respectively, reflecting the high leverage potential of these products [6] Group 3 - Investors are advised to consider call warrants with a strike price of HKD 19.01, which have a leverage of approximately 5.1 times, suitable for capturing upward movements after breaking resistance [9] - For those concerned about potential technical pullbacks, UBS bear warrants with a redemption price of HKD 21 provide a safety margin, with a leverage of 5.5 times [9] - The recent rebound in gold prices and positive earnings expectations have benefited Zijin Mining, although overbought signals are emerging, indicating a possible price correction before further gains [9]

Group 1 - JD.com (09618) stock price reached HKD 135.4, up 1.42%, with mixed investor sentiment regarding future price movements [1] - Technical indicators show that the 10-day moving average (HKD 134.75) and the 30-day moving average (HKD 134.86) are nearly aligned, indicating a critical decision point for the stock [1] - Key support levels are at HKD 128.3 (Support 1) and HKD 124.5 (Support 2), while resistance levels are at HKD 141.4 (Resistance 1) and HKD 145.1 (Resistance 2) [1] Group 2 - On May 19, JD.com stock rose 3.37%, significantly boosting the performance of related derivative products, with notable gains in bull certificates [3] - The Morgan Stanley bull certificate 51050 surged 30% in just two days, while another Morgan Stanley bull certificate 51256 increased by 23% [3] - Call options such as the Societe Generale call option 16648 and UBS call option 16559 also saw increases of 13% and 12%, respectively [3] Group 3 - The current focus for warrants includes the Societe Generale call option 16648 with a strike price of HKD 149.1, offering a leverage of 4.4 times, and UBS call option 16559 with similar leverage [4] - For bearish positions, put options like UBS put option 27915 and Morgan Stanley put option 27922, with a strike price of HKD 127.9, are recommended due to their low implied volatility and high leverage [4] Group 4 - Bull certificates such as the HSBC bull certificate 54063 provide a leverage of 10.4 times with a recovery price of HKD 125.5, maintaining a safety margin of about 7% from the current price [8] - Morgan Stanley bull certificate 68135 offers a leverage of 10 times with a recovery price of HKD 125 [8] - For bearish options, Citigroup bear certificate 55107 provides a leverage of 6.4 times with a recovery price of HKD 155, offering a buffer of approximately 15% from the current price [8]

Core Viewpoint - The recent analysis indicates that Meituan's stock price is under pressure, with potential support levels identified at 126.2 and 118.5, while resistance levels are at 140.2 and 147 [3][4]. Technical Analysis - Meituan's stock has fallen below the 10-day moving average (138.05) and the 30-day moving average (139.79), suggesting bearish momentum [3]. - The Relative Strength Index (RSI) is at 40, nearing oversold territory, while the William and Stochastic indicators signal potential buying opportunities [3]. - Key support levels are identified at 126.2 (Support 1) and 118.5 (Support 2), with resistance levels at 140.2 and 147 [3]. Derivative Market Activity - The derivative market for Meituan has seen increased activity, particularly in put options and bear certificates, reflecting heightened market risk aversion [4]. - Notable performance includes Societe Generale's bear certificate (63108) and JPMorgan's put option (13412), which recorded increases of 37% and 40% respectively after a 5.74% drop in the underlying stock [4]. Options Overview - Call options such as HSBC's (26318) offer a leverage of 5.5 times with an exercise price of 150.1, while Morgan Stanley's call option (24041) provides a leverage of 9 times with a lower premium [7]. - On the bearish side, JPMorgan's put option (13412) has a leverage of 7 times with an exercise price of 118.9, and UBS's put option (13314) offers a leverage of 7.1 times with the same exercise price [9].