STOCKWATCH: Yanzhou Coal to rebound on 100-day MA line

Following a 2-day downward tendency, Yanzhou Coal Mining (1171) continued to decline but was on a gradual rise in the afternoon. Support as reflected by the charts can be found on the 50 and 100-day moving average lines where rebound may occur provided the broad market stabilizes. However, with heads formed in the charts turning weak and turnover on the quiet side, the power of rebound may be limited. Recommended to bet on short-term rebound. Supporting stance is set at HK$2.2 and resistance stance set at HK$2.5.

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