STOCKWATCH: Xinhua Phar may test new target at HK$1.35

Shandong Xinhua Phar (0719) has been consolidating on the 10-day moving average line, indicating a strength surpassing the broad market. The stock stabilized yesterday in a declining market and rode on its own rising trend of yesterday to surge against market flow and hit at one time the HK$1.22 level of 52-week high. RSI positive, prospect good. Short-term target set at HK$1.35 and supporting stance at HK$1.1.

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