STOCKWATCH: Shui On expected to make technical rebound

Shui On Construction and Materials (0983) tested lower support repeatedly recently, and once approached the Bolliger¡¦s lower-band this morning followed by a rebound. With an obvious M-shape, it was around the neckline and short-term shape was on weak side. A technical rebound, though limited, is expected at the level, and the stock will meet resistance at the 10-day MA line of HK$10.65. Investors can take profit for short-term when it rebounds. Supporting stance set at HK$10.18.

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