Ganfeng Lithium is displaying a bullish setup after crossing above the key resistance level with strong volume.
RHB Retail Research (RHB) in a note today (Aug 21) said that the stock has staged a breakout to close above the HKD18 resistance level.
Trading volume has been increasing in tandem with the share price, suggesting that strong bullish momentum is underway.
Riding on the momentum, the stock may climb towards the next resistance at HKD19.50, followed by the one at HKD21.
However, a fall below the HKD16.50 support level would resume the correction phase.
Aluminium Corporation of China is eyeing an extension of its bullish movement after climbing above the 21-day SMA line with strong volume.
The counter managed to climb above the shortterm moving average line and close above the HKD4.55 resistance level to confirm a bullish setup.
They expected followthrough momentum to lift the counter towards the next resistance level at HKD4.90, followed by the one at HKD5.30.
If it falls below the HKD4.20 supportlevel, the bullish setup will be invalidated.
