STOCKWATCH: Nanjing Panda short-term sell while rebound

Nanjing Panda Electronics Company Ltd (0553) took the lead to rebound against a declining market yesterday after having stabilized on the lower Bollinger's Band. The rebound continued this morning alongside the broad market but showed fatigue near HK$2.4 on the 10-day moving average line, indicating rebound tendency might be ending. Short-term rise likely but the chance of breakthrough not big. Short-term recommendation: take profit while high. Supporting stance at HK$2 and resistance at HK$2.5.

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