CGN Mining is set to resume its uptrend after a robust rebound above the 21-day SMA line – it breached the previous breakout level of HKD1.75 and printed a fresh all-time high.
RHB Retail Research Market Dateline said today (Dec 27) that building on the positive momentum above the rising SMA line, the stock is expected to rebound further to test the HKD2 threshold, followed by the HKD2.20 mark.
On the downside, a fall below the HKD1.50 support level signals a reversal for a correction.
PCCW is set to rebound from a recent pullback after bouncing off the previous breakout level of HKD4.10 yesterday.
If it manages to sustain above this mark, the stock may trend upwards to test the HKD4.30 resistance, followed by the next resistance at HKD4.54.
Conversely, a fall below the HKD4 support nullifies the positive expectation and can spark the resumption of a correction phase below the 21-day SMA line.
