STOCKWATCH: Swire Pacific ¡§A¡¨ initial resistance at HK$50

Swire Pacific ¡§A¡¨ (0019) has plunged after releasing earnings report but technically rebounded lately. Turnover has, however, remained mild, indicating limited power of rebound. Initial resistance has been met on the 10-day moving average line near HK$50. There is a need for short-term consolidation and the stock is not to be absorbed as yet. Initial resistance set at HK$48.

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