STOCKWATCH: PCCW has not bottomed

PCCW(0008) continued to be soft this morning. The stock price fell through Bolliger¡¦s down-band against the broad market. RSI as reflected by charts is entering overselling zone below HK$20 level. Short-term technical rebound may occur. It is expected to be turn soft repeatedly over lack of support of bargain at low and influence of unclear fringe factors. It is not suitable to bet on rebound as the bottom has not been reached. 

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