Baidu has climbed above the 21-day SMA line with the formation of a white candlestick, suggesting the momentum is turning positive.
RHB Retail Research said today (May 31) that the 21-day SMA line is also curving higher, echoing the short-term bullish trend. If the stock stages a bullish breakout above the HKD125 resistance, this will confirm that the bulls are in control.
In this scenario, the stock will extend the upside movement towards HKD130, followed by HKD135.
On the other hand, falling below the HKD120 support signifies a resumption of the bearish movement.
Kuaishou Technology has bounced off the 21-day SMA line, strengthening the bullish setup.
Observe that the stock has broken past the HKD54 resistance on strong resistance, charting a bullish candlestick.
Should the positive momentum follow through, the stock will climb towards HKD57, followed by the HKD60 mark.
Conversely, falling below the HKD51 support would negate the bullish setup.
