Hong Kong Viable Stocks – GDS, Flat Glass

GDS may extend its uptrend after crossing above the 1-month resistance.

RHB Retail Research, in a note today (June 14), said it rose above the 21-day SMA line and breached the HKD11.50 resistance, which confirms the bullish set-up.

To extend the bullish pattern of “higher highs”, the stock should climb towards HKD13, then HKD14.50. On the flip side, falling below the HKD10 support signals the resumption of a correction phase.

Flat Glass has resumed its bullish trajectory after it underwent a bullish breakout, pushing past the HKD23.50 resistance on high volume.

The breakout or a “higher high” pattern indicates that the stock has completed the correction phase.

Riding on the renewed momentum, it should travel towards HKD25, followed by HKD26.

Towards the downside, falling below the HKD22.20 support would nullify the positive expectation.

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