STOCKWATCH: Chongqing Iron & Steel builds W-shape and to overcome HK$1.4 resista

Chongqing Iron & Steel (1053) soared from HK$0.4 to the highest HK$1.27 in a mere month and consolidated in a W-shape at the high level between HK$1-1.2. It made another breakthrough this week over sufficient turnover with RSI showing a robust momentum. Investors are suggested to make short-term investment since the stock is believed to boast headroom in the foreseeable future. Near-term resistance set at HK$1.4.

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