STOCKWATCH: Guangzhou Shipyard to test a new high at HK$0.9

Guangzhou Shipyard International(0317) retreated sharply at one time after recording a new high last week and turnover also withered obviously. Following the rebound of last Friday, the stock got rid of obsession of the broad market and came up to test HK$0.8 resistance with sufficient turnover this morning. However, it faced great selling pressure at the high position. If the resistance could not be broken through in short terms, it is expected to retreat and consolidate. Short-term investors may take profit first. If the resistance is broken through, it is expected to come up to test a new high at HK$0.9 in the short run.  

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