BYD Electronic (International)
BYD Electronic is poised to stage a bullish breakout, as it tested the immediate resistance of HKD22.80 on strong momentum. Note that the stock charted a bullish candlestick together with a “higher high” pattern, which indicates that momentum is building up. It will attract further buying pressure if a breakout happens. In this case, it will climb towards
HKD24.50, followed by HKD26. Towards the downside, falling below the HKD19.75 support would indicate that a bearish bias
has emerged.
Shanghai Fudan Microelectronics
This counter tried to extend the uptrend and tested the immediate resistance of HKD38.80. The stock has been undergoing a sideways consolidation for the past two weeks. If a breakout happens, it should resume the northbound journey towards HKD41.35, followed by HKD43. On the flip side, if it drops below the HKD35.50 support, this would signal that a correction phase is imminent.
