STOCKWATCH: PetroChina short-term technical indicators weakening; supporting sta

PetroChina (0857) dipped through the 10-day moving average line today and will test the support of HK$1.78 Bolliger¡¦s mid-band technically. As reflected in charts, with RSI gradually retreating and short-term technical indictors on weak level, it does not rule out the possibility of trying lower level at late session. Short-term investors are advisable to make profit-taking if the HK$1.78 supporting stance is tumbled through, whereas a technical rebound is expected in the short run and investors can wait and see if it can gain support at the level. Short-term resistance stance set at HK$1.87.

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