STOCKWATCH: target price of Hong Kong Electric to jump to HK$34

Hongkong Electric Holdings (0006) intended to construct head-shoulder-bottom consolidation shape for nearly four months. It re-approached the neckline resistance stance under the support from vivid turnover and gained robust support at the 10-day MA line. A breakthrough is expected in the foreseeable future. Short-term investors can collect it at low and bet on short dealing when it retreats to the 10-day MA line of HK$29.3 this morning. Target price is expected to rise to HK$34 if the breakthrough is made.

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