STOCKWATCH: Dongfang Electrical records another new high; to test HK$1.2

Dongfang Electrical Machinery (1072) regained support after retreating to 10-day moving average line last week. It recorded another new high in coordination with sufficient turnover. RSI is in stronger zone but has not yet entered overselling zone, indicating some room for further surge. It is expected to have chances to continue its up-trend. Absorption at low for mid-term run is advised while short-term target price may be around HK$1.2. Supporting stance is set at HK$0.85.  

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