STOCKWATCH: Panda Electronics initial support at 50-day MA line

Nanjing Panda Electronics Company Ltd (0553) bounced back technically this morning, initially supported by the 50-day moving average line. However, with the market in such a weak state and RSI as well as turnover on the soft side, rebound is not expected to be of such a great range. Recommended to take profit on rebound for short-term investment. Resistance stance set at HK$2.35. Supporting stance is set at HK$2.

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