Pop Mart International has undergone a bullish breakout and may extend its bullish trajectory.
RHB Research, in a note today (Aug 28), said the stock has broken past the HKD23 resistance and charted a fresh “higher high”, which suggests that the bullish momentum is ramping up.
Riding on the momentum, the stock would test the next resistance pegged at HKD26, followed by HKD29. On the flip side, breaching below the HKD21 support will form a “lower low” and kick off the correction phase.
Uni-President China is also undergoing a technical rebound, while eyeing a spot above the immediate resistance of HKD6.
The trading volume is increasing in tandem with the rising share price, showing that the positive momentum is gaining traction.
In the event the stock climbs above the immediate resistance, this will attract fresh buying pressure.
In this case, the stock should travel towards HKD6.20, followed by HKD6.50. On the other hand, falling below the recent low or the HKD5.
