STOCKWATCH: China Everbright short-term target at HK$7.8

China Everbright (0165) failed to follow the rebound of red chips and state-owned stocks yesterday and closed slightly low, indicating that the short-term consolidation is insufficient and rebounding trend is weak. Despite the rise this morning, it still cannot shake off the bottom on a stubbornly thin turnover. The rebounding stamina in the short run is expected to be rather limited and wait-and-see attitude should be taken while holders can continue to hold. Near-term rebounding target set at HK$7.8 and supporting stance at HK$7.15.

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