STOCKWATCH: China Gas supporting stance at 50-day MA line; stop loss at HK$11

HK & China Gas Company (0003) went down with the market this morning, once plunging below HK$11.25 supporting stance on the 50-day moving average line but climbed up afterwards, indicating certain support on that level. Technical indicators, however, denote weakness. Hence further downward re-adjustment possible. If position can be kept at HK$11, rebound can be expected and it is advisable to sell while the high price lasts. Stop loss level should be set at HK$11.

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