STOCKWATCH: Chu Kong Shipping to take low bargains; supporting stance: HK$0.83

Chu Kong Shipping Development (0560) has outperformed the broad market in the past half year. It has churned up since last October. Charts reflected its bottom was stepping up, which pushed it to record a 52-week new high. Although turnover saw obvious increase at one time, it retreated later to consolidate. The stock stabilized this morning again the broad market, showing a coming rising stage. Short-term resistance stance is set at HK$0.9 ¡V 0.93. Recommended to absorb with hesitation. Supporting stance is set at HK$0.83.  

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