RHB Research has identified two promising stocks in the Hong Kong market, China New Higher Education and SenseTime, both of which are showing strong bullish momentum, according to recent technical analyses.
China New Higher Education is positioned to continue its upward movement after breaking past the HKD1.90 resistance level on high trading volume. The stock’s price surge, alongside increased volume, indicates robust bullish momentum. Analysts predict the stock may target its next resistance levels at HKD2.10 and HKD2.30. However, a drop below the HKD1.75 support level could signal a return to the correction phase.
SenseTime, on the other hand, also displayed a bullish breakout after surpassing the HKD1.60 resistance, marked by a long bullish candlestick and strong volume. With the 21-day simple moving average (SMA) trending upward, the stock’s short-term trend appears positive. Analysts forecast that the stock may rise to HKD1.90, followed by HKD2.20, if the bullish momentum persists. A fall below the HKD1.35 support level would negate the bullish setup.
Both stocks present potential opportunities for investors looking to capitalise on Hong Kong’s current market conditions.
