STOCKWATCH: China Resources Beijing Land: take profit on rebound

China Resources Beijing Land Ltd (1109) was touching the lower track of the Bollinger's Band last week and again able to obtain support on an increased turnover. Technically it should rebound alongside the broad market, but charts show relatively strong resistance at HK$1.75 to HK$ 2-level, denoting that technical indicators are still in the weak consolidating zone and the range of rebound in the foreseeable future not too great. Recommended to take profit while rebound lasts. Supporting stance is set at HK$1.5.

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