STOCKWATCH: China Unicom short-term resistance at HK$13.8

China Unicom (0762) loitered around the 10-day MA line and churned up in consolidation recently. However, due to the slack investment sentiment on the broad market and insufficient turnover, consolidation will prevail in the foreseeable future and ideal profit-making room is unlikely. Caution advisable. From a middle view, it is expected to test higher-level resistance after the consolidation as long as the support of 10-day MA line can be kept. Investors can continue to hold or collect at low. Short-term resistance stance set at HK$13.8 and supporting position at HK$13.

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