CK Asset’s price is eyeing to set off a counter-trend rebound, testing the overhead resistance of the 21-day SMA line. We observed strong resistance forming at the HKD36.60 level.
RHB Retail Research said, in a note today (Feb 5), a bullish breakout above this threshold deems the correction phase as completed. In this case, the momentum should lift the counter towards HKD38, followed by the HKD40 mark.
In the event it falls below the HKD34.15 support, this resumes the correction phase.
Weibo Corp’s price is attempting to stage a bullish breakout, testing the 21-day SMA line. The stock’s price has been undergoing corrections since falling below said line.
Last Friday, its price charted a bullish candlestick with long upper shadow while testing the HKD68 resistance.
In the event the bullish breakout occurs, the counter’s price may undergo a countertrend rebound towards the HKD75 mark, followed by HKD80.
Conversely, falling below the HKD61 support resumes the downwards movement.
