STOCKWATCH: Giordano short-term resistance: HK$4.5

Giordano International (0709) was brought up by the rebounding broad market and once came up to test resistance at HK$4.5 last week, but it retreated after held back. It retreated narrowly and consolidated for over a week and the turnover also withered gradually. In face of challenging support at 10-day moving average line, RSI sustaining weak, space of short-term rebound is limited. But it is likely to gain support at 10-day and 50-day moving average lines. Mid-term hold or low absorption is advisable. Supporting stance: HK$4.1. Short-term resistance: HK$4.5.  

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