STOCKWATCH: not be bet on PCCW for rebound

PCCW (0008) churned down for nearly half a year under the pressure of 10-day MA line. Despite the slowdown in the downward trend for the past two months, an obvious rebounding signal has not yet come, with various technical indicators on weak side and turnover remaining mediocre. Strong performance is unlikely in the short run given no positive news. Not bet on the bottom. Near-term resistance set at HK$2.475.

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