NetEase climbed above the key resistance yesterday, confirming the bullish setup.
RHB Retail Research said they observed that the counter broke past the HKD163 resistance to form a “higher high” and “higher low”.
This price action recouped the losses incurred on 22 Dec 2023, and confirmed that the bulls now have the technical advantage.
The bulls are setting their sights on the HKD173 level, followed by HKD185.
If the counter falls below the HKD150 support, the correction phase will be resumed.
Li Auto has staged a bullish breakout – it broke past the key resistance on high volume.
Yesterday, the stock climbed above the HKD115 resistance to chart a fresh “higher high”.
This, coupled with high trading volume resulted in renewed momentum, indicating that the stock is poised to extend the counter-trend rebound.
RHB expects follow-through price action to test HKD128, followed by HKD140.
On the flip side, a fall below the HKD105 support would negate the bullish setup.
