STOCKWATCH: Xinhua Phar keeps trying HK$1.6

Shandong Xinhua Phar (0719) has been on the rise and well supported by volume of turnover. RSI may have approached the high of 80 but the stock is still making steady progress. It may not have accelerated and may need technical consolidation, but if it should stabilize on the rising track, it will attain a higher position. The next target price: HK$1.6. Supporting stance is set at HK$1.35.

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