STOCKWATCH: New World Dev short-term resistance: HK$10.75

New World Development (0017) jumped up alongside rebound of the broad market last Thursday. It has maintained tendency of narrow consolidation at HK$10 psychological gateway in the past days. Charts indicated RSI sustained churning up but turnover was still on the low side. Nevertheless, it saw some support to some extent. If there should be no more gloomy news, the stock will continue to consolidate and surge up. It is suitable to collect at low. Supporting stance is set at HK$9.5. Short-term resistance: HK$10.75. 

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