STOCKWATCH: Hong Kong Gas to sell while rebound

Hong Kong & China Gas (0003) has stabilized with support of 10-day moving average line. It shrank off the obsession of slipping of the broad market Wednesday. Although it continued to rebound today, it saw initial pressure of 50-day moving average line. As RSI was still weak and turnover stayed on the low side, forces and space of further rebound is expected to depend on the trend of the broad market. Recommend short-term investors to take profit while rebound lasts. Mid-term absorption can be made at 10-day moving average line. Supporting stance is set at HK$10.7. Resistance stance set at HK$11.2. 

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