STOCKWATCH: China Shipping Development: wait and see while consolidation

Rebound of China Shipping Development (1138) has been obviously lagging behind the broad market. The stock as reflected by charts has not yet shaken off the obsession of 10-day moving average line. RSI has a weak up-surging trend. With the turnover on the low side, short-term rebound is expected to be limited in space and strength. Consolidation may follow in the coming days. Caution is advised. Supporting stance is set at HK$1.04. Stop loss: HK$0.95.

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