STOCKWATCH: Consolidating Tong Ren Tang to rise

Tong Ren Tang Technologies (8069) came up to break through rising band Monday to accelerate the rise, but was held back as the broad market plunged sharply and state-owned stocks softened over profit-taking. It took the chance to rebound with the broad market and regained up-surging tendency. However, With RSI being in overselling zone and charts reflecting resistance at a high position, consolidation may dominate the coming days. Investors are advised to continue to hold or absorb at low near 10-day supporting position. Resistance zone is set at HK$4 to HK$4.5. Supporting stance at HK$3.5.

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