Techtronic Industries breached the resistance point of HKD85 to chart a fresh “higher high”.
RHB Retail Research said today (June 28), the 21-day SMA line is curving upwards further, which indicates that the trading trend for the immediate term will be bullish.
An extension of the bullish setup will see the stock rising towards HKD90, followed by HKD95.
Conversely, falling below the HKD80 support will kick-start a bearish phase.
China Life Insurance is undergoing a technical rebound, as it tried to push past the immediate resistance.
The stock charted a bullish candlestick with a long lower shadow, indicating that bullish momentum is picking up pace again.
If it breaks past the HKD13.20 resistance, it should climb towards the next resistance of HKD13.70, and followed by HKD14.
Towards the downside, breaching below the HKD12.68 support would signify the resumption of a correction.
