STOCKWATCH: dispose Wah Sang Gas at high; short-term resistance at HK$9.3

Wah Sang Gas Holdings (8035) soared 60% in the past two weeks. With short-term technical indicators such as RSI seeing serious over-buying, a requirement for technical retreat and consolidation is emerging. Plus, the broad market posting weakness, the stock once fell below HK$8 and finally stabilized at the supporting level of 10-day MA line. The rebound this week is still regarded as a short-term consolidation since current technical shape remains high. Investor should discard while high. Supporting and resistance stance set at HK$8.4 and HK$9.3 respectively.

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