STOCKWATCH: Mild rebounding China Merchants to sell while high

China Merchants Holdings (0144) has seen initial stop. It came up to test 10-day moving average line today while the rebound was definitely lagging behind the broad market. RSI shows weak trend and rebound lacking strength. Turnover has remained thin. An ideal rebound is not expected to occur in near future. Consolidation may dominate the coming days. Recommended short-term profit-taking. Resistance stance is set at HK$5.7. Supporting stance HK$5.1.

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