STOCKWATCH: CPCC lacks turnover support; sell at high for short-term

China Petroleum & Chemical Corporation (0386) rebounded sharply stirred by 
positive news last week. Though it sustained the upward momentum this morning,
 the price faced the high-position resistance and turnover remained mediocre. 
It is expected to meet resistance around the level of HK$1.65 given dearth of 
support of turnover. Short-term investors are suggested to discard at high.
 Supporting stance set at HK$1.5. Continue to hold technically once the 10-day

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