Koolearn Technology
This China-based company mainly engaged in the provision of online education courses, experienced strong buying interest, breaking past the HKD21.50 resistance on high trading volume. Observe that the stock has reclaimed the 21-day SMA line and is charting a series of “higher highs” with “higher lows”. With the bulls in control now, the upside movement should extend towards HKD23.50, followed by HKD25. On the flipside, breaching below the HKD19 support would indicate that a bearish bias has emerged.
JD Logistics
JD Logistics has staged a bullish breakout, breaching the HKD16.50 immediate resistance with strong trading volume.
Since crossing above the 21-day SMA line, the stock has been climbing higher with strong volume, indicating that the bulls are in charge now. If the bullish momentum sustains, the stock should scale higher towards HKD17.50, followed by HKD18.50. On the other hand, if it falls below the HKD15.50 support, this would negate our positive expectation.
