Baidu is looking to move higher after staging a bullish breakout with strong volume.
RHB Retail Research (RHB) in a note today (Sept 25) said the stock has charted a bullish candlestick and closed above the HKD86.50 resistance level, showing that strong bullish momentum is underway.
If it stays above the breakout point, the counter should climb towards the next resistance level at HKD93,followed by the one at HKD100.
In the event that the price falls below the HKD83 support level, the correction phase will resume.
Ping An Insurance’s upside movement may be extended after it rose above the resistance level on strong volume.
The counter closed above the HKD38 resistance level with a bullish candlestick, confirming a bullish setup.
The 21-day SMA line is moving upwards, showing that the short-term trend is bullish.
The bullish momentum should propel the stock towards HKD43, followed by HKD48.
On the downside, a fall below the HKD35 support level would negate the bullish setup.
