Meituan
In the RHB Research report on the HKEX’s trading stock dated 29 June 2022, this tech counter is attempting to break past the immediate resistance, as it knocks on the HKD210 level. The stock has pulled back from the immediate resistance, as it underwent a 2-week sideways consolidation. If the breakout happens, it is expected that trading volumes to pick up again, propelling Meituan towards the next resistance at HKD220 – this is followed by the HKD240 mark. In the event it falls below the HKD190 support, this should trigger the resumption of negative momentum.
ANTA Sports Products
While this sport attire company surged higher recently on the back of strong trading volumes. The bulls are eyeing to cross above the immediate resistance of HKD100. Breaking past the psychological resistance should attract further buying interest, lifting ANTA Sports Products towards the next resistance at HKD107 and followed by the HKD116 level. Conversely, breaching below the HKD91 support will resume the downside correction.
Sino Biopharmaceutical
Sino Bio rose higher after attempting to cross above the HKD4.90 immediate resistance. It is observed the stock pulling back recently from the immediate resistance to consolidate. The bullish bias may emerge again if Sino Biopharmaceutical breaks past the immediate reistance. In this scenario, the stock may extend the upside movement to test the HKD5.20 level, followed by the HKD5.50 mark. On the flipside, falling below the HKD4.47 support will negate this expectation.
Sun Art Retail
This counter broke past the immediate resistance of HKD2.60 on strong momentum. It is noticed the stock moving
sideways for the last two months, building a consolidation base. If the bullish momentum sustain, it may scale higher towards the next resistance at HKD2.85, followed by HKD3.08. On the other hand, falling below the HKD2.40 support will give rise to downside risks.
