STOCKWATCH: CHINA RARE dips through HK$2.3; selling suggested

China Rare Earth Holdings (0769) climbed up sharply last week and, as indicated in charts, various technical indices have been in over-sale zone with RSI nearing 90. Considering that the likelihood for retreat and consolidation is technically strong from a near-term perspective and the turnover was rather insipid, investors can continue to hold if the HK$2.3 level can be kept. It will test 10-day MA line support if the level is tumbled through. Profit-taking wise for short-term investors.

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