Hong Kong Viable Stocks – Xiaomi Corporation, Ping An Insurance (Group)

Xiaomi Corporation broke past the key resistance to form a bullish setup.

RHB Retail Research said today (Mac 13) they observed that the stock has climbed above the Neckline or resistance of HKD14.50.

The latest breakout, coupled with the high volume, indicate bullish momentum is strong.

The bullish momentum should propel the stock towards HKD16, followed by HKD17.

Meanwhile, breaching below the HKD13.50 support will negate the bullish setup.

Ping An Insurance (Group) Company of China has staged a bullish breakout and is eyeing to extend the upward movement.

The counter climbed above HKD37 resistance on high volume.

The 21-day SMA line is moving upwards, signalling the short-term trend is bullish. The counter should travel towards HKD40, followed by HKD43.

In the event it falls below the HKD33 support, this will resume the bearish phase.

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