Li Ning
This sport apparel company broke past the HKD69 immediate resistance on high trading volumes, according to the RHB Research’s technical analysis report on HK-listed stocks. It is observed the stock trading above the 21-day SMA line and bullish bias has now emerged. If the bullish momentum follows though, the counter should climb towards HKD74 followed by HKD77. On the downside, falling below HKD64 indicates the bears in control and that the correction phase has started.
Xinyi Glass
Xinyi is attempting to bounce off the 21-day SMA line. If it manages to rebound above the moving average line and
break past the HKD15.76 immediate resistance, the bullish bias will emerge. If this happens, the stock will attract strong buying interest. It may then climb higher towards HKD16.50, followed by HKD17.20. However, if it drops below the HKD14.50 support, it is expected this counter to revert to a bearish phase.
