Kingsoft Corporation Limited is attempting to stage a bullish breakout, and is consolidating sideways below the key resistance.
RHB Retail Research observed strong resistance has formed at the HKD25 level.
Meanwhile, trading volume has been increasing lately, showing bullish momentum is gaining traction. If a breakout happens, expect a follow-through price action to test HKD27, followed by HKD30.
On the downside, falling below the HKD22.50 support will resume the correction phase.
AAC Technologies has staged a bullish breakout and is poised to extend the upside movement.
The counter broke past the HKD24 resistance to form a “higher high” bullish candlestick.
Coupled with high volume, the bullish momentum is strong now.
It is eyeing to travel towards HKD26, followed by HKD28. If it falls below the HKD22 support, this will open the door for downwards movement.
