Li Ning
RHB Retail Research has cited Li Ning is staging a technical breakout after surpassing above
the HKD65 level last Thursday and maintaining above that threshold on Friday. This has firmed up the “higher high” bullish pattern. The bullish bias above the HKD65 immediate support is likely to see renewed buying interest in the coming sessions to propel the stock towards the recent high of HKD72 – before possibly printing at HKD75. A fall below the HKD60 support will attract selling interest and pull the counter further below the 21-day average line amid a fresh “lower low” bearish pattern.
China Ruyi Holdings
This counter is eyeing to rebound higher after recently bouncing off the 21-day SMA line while attempting to move past the HKD1.79 resistance on Friday. If it manages to climb above that level, the buying interest may accelerate further to propel the stock towards the HKD2 threshold, followed by HKD2.10. Conversely, the counter may reverse its direction if it falls below the HKD1.67 support and trade below the average line – forming a fresh “lower low” bearish structure.
