STOCKWATCH: HK Exchange not to be absorbed yet

Hong Kong Exchanges and Clearing Limited (0388) has shown signs of stability in the past few days but charts still indicate its predicament of being trapped on the descending track. RSI will remain consolidating on the 30-level. With turnover insufficient to booster ascent, the stock may be rebounding after diving in volatility, but there are still no signals for buying from technical indicators. Under current choppy market conditions, the stock is not expected to be able to break through the upper band of the descending track in the foreseeable future and is not recommended for absorption at the moment. Resistance stance set at HK$14.5. Stop loss at HK$13.4.

Related stock : (388)