Hong Kong Viable Stocks – BYD, AAC Technologies

BYD is eyeing a bullish breakout after testing the immediate resistance level with strong volume.

RHB Retail Research, today (June 12), said the stock printed a bullish candlestick and is attempting to cross above the HKD230 resistance.

RHB observed that trading volume has been increasing, suggesting that bullish momentum is gaining traction. If a breakout occurs, the stock may climb towards the resistance levels pegged at HKD250, followed by HKD270.

However, a fall below the HKD210 support level would kick off a correction phase.

AAC Technologies is poised to extend its bullish movement after breaking past the resistance level on strong volume.

The counter closed above the USD28 resistance level yesterday to form a fresh “higher high” bullish candlestick.

An extension of the bullish structure should see the counter rise towards the HKD31 level, followed by HKD35.

Meanwhile, a fall below the HKD25 support level would negate the bullish setup.

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