STOCKWATCH: Hopewell gains vigorous support at HK$4.5

Hopewell Holdings (0054) retreated to flag-shape consolidation after an accelerated rise early this month. Having obtained technical support at the HK$4.5 Bolliger¡¦s mid-band, it rebounded against the dismal market and returned to the 10-day MA line over the vivid turnover today. However, it suffered recent high-position resistance at the level of HK$4.8 and went soft in the afternoon. Charts showed that it intended to overcome the flag-shape consolidation and would test high-level resistance repeatedly in the foreseeable future. Investors should are advisable to collect it at low. Supporting stance set at HK$4.5.

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