Pre-market trend | XINYI GLASS (0868.HK) 5/5 Weak downward trend continues, when can the bulls catch it?

Yesterday's closing, XINYI GLASS slightly fell by 1.25%, closing at HKD 9.50, with a trading volume of approximately HKD 30.07 million, continuing the recent pattern of moderate decline. The MACD daily line formed a death cross below the zero axis, indicating that the previously weak price momentum has further deteriorated, lacking effective buying support in the short term. Unlike a sharp decline, XINYI GLASS is showing a "gradual decline" rhythm, with daily losses being small but consistently moving lower, a pattern that often reflects a gradual erosion of market confidence. The trading volume remains at a medium-low level, with neither panic selling nor active capital entering the market. On the news front, the construction products sector is significantly affected by the macro real estate cycle. Recently, Hong Kong stock real estate-related targets have shown a mixed performance; although leading companies like China Overseas Land & Investment and China Resources Land have seen slight rebounds, the overall sentiment in the real estate chain remains cautious. As a leading architectural glass company, XINYI GLASS's performance is highly correlated with the domestic real estate completion area, and the current market expectations for real estate completion data in the second half of the year are not optimistic. Additionally, high oil prices are driving up energy costs for glass production, with WTI crude oil trading around USD 105, putting general pressure on manufacturing costs. There are currently no significant catalytic events in the industry. From a technical perspective, HKD 9.50 is close to the low range of the past six months; if it falls below HKD 9.30, it may open up further downward space. In terms of volume, the current trading volume of approximately HKD 30 million is near the recent average, with no significant panic volume observed, but the continued shrinking volume and gradual decline indicate that the bears still dominate