STOCKWATCH: Buy HK$85-testing Hutchison Whampoa

Hutchison Whampoa Ltd (0013) has been slipping for the past month. Charts show a standard curve of decline. Technical indicators such as MACD and RSI all point to meagre profit. The stock is expected to test further lower grounds in the near future but will rebound after stabilizing at its low position last May. Short-term investors can try betting on a rebound by absorbing the stock below HK$85. Stop loss level set at HK$81.

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