Akeso underwent a bullish breakout, breaking past the resistance on strong volume. Yesterday, the stock climbed above the HKD49 resistance and printed a fresh “higher high” bullish candlestick.
RHB Retail Research Market Dateline said today (Nov 29) that the consolidation has been completed, and the stock is resuming its uptrend.
The trading momentum should propel the stock towards HKD52, then HKD55.
On the other hand, breaching below the HKD46 support will negate the bullish setup.
Q Technology is poised to extend its uptrend after breaching the resistance point of HKD4.80 on high volume.
For the past month, the stock has been consolidating sideways below the HKD4.80 resistance. The latest bullish breakout, coupled with the 21-day SMA line pointing upwards, shows that the short-term trend remains bullish.
The stock should resume climbing towards the next resistance of HKD5.20, then HKD5.60.
Conversely, falling below the HKD4.40 support would open the door to a bearish phase
