Hexun Investment Advisor Qi Junqiang: Watch out for resistance during the rebound!

A-share Independence Day—has the current market reversed? Has the second leg been confirmed? Should you add to positions or reduce positions this week?

Stating a clear view: This week, the rebound pressure level is in the 3950 to 4000 point range. There is a high chance of another pullback. First, the A-shares market has indeed been stronger than overseas markets recently, but this kind of performance usually can’t be sustained unless there is special capital propping up the market, and at present there are no clear signs. Second, the geopolitical event is in a phase of intense confrontation; anything can happen. We need to wait patiently for the outcome to become clear, and it is expected to take about two more weeks. Third, the market shows a pattern of falling on volume but rebounding without volume. Investor initiative to go long is not strong, which can also be confirmed from futures contracts. If there is a one-day surge in volume, it often leads to a short-term high point. Only with sustained volume can the market truly improve. Wait patiently—opportunities go to those who are prepared.

(Editor: Zhang Yan)

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