STOCKWATCH: JOHNSON ELEC sees supports at HK$12; caution preferred

Vexed by gloomy news recently, Johnson Electric Holdings Limited (0179) retreated dramatically. Fortunately, it saw support at the HK$12 technical supporting gateway this morning. From a short perspective, with various technical indicators growing weak and no buying signals emerging, it is expected to test the support at the level repeatedly. Short-term investors should keep on the sideline and not bet on rebound.

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