HK-Listed Stocks with Momentum: Brilliance China Automative, Bank of China

Brilliance China Automotive

Brillance China Automative, as cited in the technical analysis report of RHB Retail Research, is poised to extend its uptrend after breaking through the HKD4.50 resistance. The latest price action saw the stock print a “higher high” with “higher low” bullish
pattern, indicating a strong bullish momentum is in play. The stock should continue its uptrend towards the next resistance pegged at HKD5.50, followed by HKD6.50. On the flip side, falling below the HKD3.80 support would negate the positive setup and begin the correction phase.


BoC is in the midst of building an interim base after staging a bullish breakout recently. Observe that the stock has broken past the HKD2.71 resistance with high volume on 25 Nov. The 21-day SMA line is also trending higher, suggesting a bullish bias has emerged. If the stock manages to climb above the HKD2.71 level again, we expect the momentum to pick up and lift the stock towards HKD2.82, followed by HKD2.90. In the event it falls below the HKD2.61 support, this will nullify the positive expectation.

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