STOCKWATCH: Sun Hung Kai Properties to dive down for support at HK$60

Sun Hung Kai Properties(0016) did not follow the broad market and closed low after high opening. It continued to ride on downward trend today. Charts reflect it has fallen through recent supporting position at HK$70 with turnover increasing mildly and RSI worsening. Even if it rebounds technically, the force is expected to be limited. It may churn down to test support at HK$60. Recommend short-term investors to take profit while it is still high. Resistance stance is set at HK$70.

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