STOCKWATCH: take profit from Peking Apparel at high and leave trading floor

Peking Apparel International (0761) accumulated considerable up-range for the nearly two weeks and re-approached the high-level resistance of last year around HK$0.8. With short-term technical indicators such as RSI undergoing serious over-buying, a large-scale consolidation is required technically. It made rapid retreat after testing the high-level resistance this morning over the vivid turnover. Short-term investors should take profit at high and leave the trading floor if it cannot break through the resistance in the short run. Absorb again if it gains stability at the level of HK$0.6 during the consolidation.

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