STOCKWATCH: REGAL HOTELS boasts space-head in short-term

Spurred by the news that five hotels would be on sale, Regal Hotels International Holdings (0078) soared dramatically after the opening this morning. Technically speaking, with a rather big up-range obtained this morning and short-term technical indicators including RSI undergoing serious over-buying, it is expected to further rise in the short run after the resumption of trading. Suggest discarding for short-term since the risk of buying when rising is considerably high. Supporting stance set at HK$0.3.

Related stock : (78)