STOCKWATCH: K M BUS supporting stance at HK$24; absorb at low for mid-term

Kowloon Motor Bus Holdings (0062) closed low consecutively amid the frustrating broad market last week. Encouragingly enough, the decline trend came to a halt, with the current price retreating to the significant gateway of 50-day MA line around HK$24, where strong technical support is expected. Short-term investors can collect to bet on technical rebound around the level or continue to hold for mid-term. Short-term resistance zone is around HK$26-27.

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