Hong Kong Viable Stocks – Haier Smart Home, Lenovo Group

Haier Smart Home has crossed above the key resistance – eyeing to extend the upside movement.

RHB Retail Research, in a note today (Sept 4), that during the latest session, the stock climbed above the HKD24 resistance on strong volumes.

The bullish breakout indicates momentum is strong, which should lift the counter towards the HKD25 mark, followed by the HKD26 level.

On the downside, falling below the HKD23.50 support will negate the bullish structure and kick off the correction phase.

Lenovo Group is attempting to stage a bullish breakout, testing the HKD9 key resistance with high volumes.

The stock has been on a counter-trend rebound movement after crossing above the 21-day SMA line. Strong selling pressure will emerge at the HKD9 level.

In the event the counter breaches above the immediate resistance, it will test the next resistance at HKD9.50, followed by the HKD10 mark. Conversely, falling below the HKD8.23 support will resume the bearish phase.

Previous articleHang Seng Index Futures: Upside Movement Rejected By 20-Day SMA Line
Next articleAfter Country Garden Debt Deal, Focus Shifts To China Property Recovery Prospects


Please enter your comment!
Please enter your name here