STOCKWATCH: SCMP gains support at HK$4.8; bet on short-term while rebound

Obsessed by a slipping trend last week, South China Morning Post (0583) repeatedly tried the low-level support and re-tested the HK$4.8 supporting stance. As reflected in charts, it had gained support at this level for several times and is expected to stage short-term technical rebound. The stock stabilized today over a sharply increased turnover, which is believed that short-term investors are collecting for short-term at low. Near-term target set at HK$5.05.

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