STOCKWATCH: Guangdong Kelon: recommended to hold for mid-term investment

Guangdong Kelon Electrical (0921) was once rebounding last month on a reasonable volume of turnover, indicating sufficient buyers available. The stock may have retreated gradually alongside the broad market, but it was still able to stabilize and consolidate on the 10-day moving average line. Judging from current market situation, it is likely that the stock will be consolidating in the near future but rebound is expected for mid-term investment. Recommended to hold. Supporting stance is set at HK$1.4. Resistance stance set at HK$2.

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