STOCKWATCH: Short-term Li & Fung to meet heavy resistance; rebound range limited

Li & Fung(0494) as reflected in chart rebounded several times and was held back at Bolliger¡¦s upper band. It retreated despite regaining support at 50-day moving average line. A rebound this morning obviously lacked bargains, showing limited force of further rebound. Furthermore, it stepped down in previous days, technically setting heavy resistance for further rebound. Recommend short-term not to hurry for rebound. Supporting stance is set at HK$13.2. 

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