Hong Kong Viable Stocks : China Mobile, China Petroleum & Chemical

China Mobile is poised to extend the upside movement after breaking past the resistance level on strong volume.

RHB Retail Research (RHB) in a note today (July 3) said the stock has climbed above the HKD75 resistance to print a fresh “higher
high” bullish candlestick.

Coupled with the rising volume, it is eyeing to test the next resistance at HKD80,followed by HKD84.

Meanwhile, falling below the HKD70 support would negate the bullish setup.

China Petroleum & Chemical is eyeing to stretch the bullish trajectory after staging a bullish breakout.

The counter has closed above the HKD5.10 resistance on a fresh “higher high” candlestick, posing a bullish technical setup.

The renewed momentum should lift the counter towards the next resistance at HKD5.40, followed by HKD5.70.

On the flipside, breaching below the HKD4.80 support would kick off the correction phase.

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