STOCKWATCH: China Shipping still plunging; not yet to be absorbed

Although China Shipping Development (1138) rebounded alongside the broad market, charts have reflected that it has not come out of its falling band. Attempt to bounce today has met obvious resistance by the10-day moving average line at HK$1.04. Rebound of RSI at a low level is expected not to last long, owing to the insufficient volume of turnover. Recommended not to bet on rebound yet. 

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