STOCKWATCH: Definite support for HK Electric on 50-day MA line

Hong Kong Electric Holdings (0006), which has been dragged down by the broad market, stopped falling on the 50-day moving average line yesterday and continued to stabilize on that level this morning, indicating definite technical support from 50-day moving average line. Nevertheless, can still be adversely affected by the broad market and selling is recommended once the stock should fall through HK$28. Short-term recommendation: sell to take profit.

Related stock : (6)