STOCKWATCH: Short-term Tong Ren Tang oversold; mid-term to rise

Tong Ren Tang Technologies (8069) began to rise from HK$2.5, which has been recommended several times in our column. Its present up range has exceeded 100%. The stock created a new high since listing but turnover only saw a mild increase, showing further surge is likely to follow. As for short-term investors, because of signals of overselling, technically it needs a short-term consolidation. If the up trend does not changed, it will continue to climb up. Short-term investors can dispose at high and collect at low. Short-term resistance stance is set at HK$5.5. Supporting stance: HK$4.6. Mid-term hold is advised. 

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