STOCKWATCH: Legend may climb down to HK$5 supporting stance

Legend Holdings (0992) backpedaled after an initial rise last week. Charts reflect a slight downward tendency, with RSI retreating to the weaker zone below the 40-day moving average line. Turnover volume saw a slight increase, indicating presence of take-profit selling. There was a gradual rise today, which should nevertheless be regarded as a technical rebound. Under outer influence, an eventual retreat is not unlikely. Recommended to discard while high. Initial supporting stance set at HK$5 and resistance at HK$5.8.

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