STOCKWATCH: Kunming Machine Tool can still climb higher

Kunming Machine Tool (0300) has been on the rise in a down-going market and has accumulated a certain amount of gain. The stock is to see take-profit selling in the near future. Turnover may have been on the increase but selling pressure is not yet serious. Besides, with the volume of transaction dwindling with price rise, funds are definitely targeted. Technically there is a need for consolidation and headspace for rise later. Recommended to hold. Supporting stance is set at HK$1.5 to HK$1.6. 

Related stock : (300)