Semiconductor Manufacturing International is poised to climb higher after it broke past the resistance on strong volume. Since crossing above the 21-day SMA line, the stock has been charting a series of “higher highs” while volume has been increasing.
RHB Retail Research Market Dateline today (Oct 30) said the latest breakout confirms the bullish setup. The stock should travel towards HKD24, followed by HKD26. Conversely, breaching below the HKD20 support will negate the bullish setup.
CSPC Pharmaceutical has staged a bullish breakout and is poised to extend the positive price action. We observe that the stock has broken past the HKD6.50 resistance on the back of strong volume.
Riding on this momentum, it should travel towards the HKD7 mark, followed by the HKD7.50 level. On the other hand, falling below the HKD5.86 support will negate the bullish setup and set off a correction.
