STOCKWATCH: Chengdu Telecommunications Cable meets resistance at HK$2.45

Chengdu Telecommunications Cable (1202) rebounded by more than 15% this morning and overcame the short-term descending-band resistance. A dropping breach emerged around HK$2.4-2.45. With 20-day MA line at HK$2.45, the zone became the short-term rebound resistance. Expected to gain stability above HK$2.4 and caution is needed at present

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