STOCKWATCH: China Unicom rebounds; supporting stance at HK$13

China Unicom (0762) consolidated and churned up in narrow range around the 10-
day MA line last week. With technical indictors showing multi-head trend and
 the 50-day MA line approaching the 100-day MA line, it sustained the upward
 tendency this morning and is expected to see ¡§golden cross¡¨ in the short run 
technically. The stock had been admitted into the Hang Seng composite stocks
 and rumor whirled in the market that Tracker Fund would buy it. From its trend
, the cost zone of the stocks bought is estimated around HK$12. Therefore, 
investors can continue to hold or absorb around the level of HK$13 since it
 current price is not far away from HK$12 and would rise in the late trading.

Related stock : (762)