China Education Group
China Education Group, according to RHB Research’s technical analysis report on HK’s trading stocks (September 5), is eyeing an extension of its uptrend, after breaching the immediate resistance of HKD7.00 on strong trading volume. The stock has been charting a series of “higher highs” together with “higher lows”, showing that the bulls are in control. Riding on strong momentum, it should travel towards HKD7.40, followed by HKD7.86. On the flip side, if it falls below the HKD6.60 support, this would indicate that it is entering a correction phase.
Hope Education Group
This counter is poised to stage a bullish breakout, as it is knocking on the door of the HKD0.72 resistance. For the past two months, the stock has been consolidating sideways. If a breakout happens, the uptrend may be resumed. In this scenario, the stock could climb towards the next resistance pegged at HKD0.80, followed by HKD0.90. Towards the downside, breaching below the HKD0.64 support would indicate that the bears have trumped the bulls.
