STOCKWATCH: Shum Yip target price HK$1.84 for rebound Shum

Yip Investment Ltd (0604) fell sharply over selling frenzy. Selling pressure has decreased. Alongside the rebound of he broad market of last Friday, the stock rebounded to return to 10-day moving average line. With the sufficient cooperation of turnover, it is expected to continue to rebound in the steady market. Charts show several resistances above HK$1.8. Recommend short-term investors to stop loss appropriately at the level. Initial resistance is set at HK$1.76. Short-term rebound target price at HK$1.84.

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