STOCKWATCH: sell First Pacific at high when rebound

First Pacific (0142) closed slightly high alongside the rebounding broad market this morning after gaining initial support around the 50-day MA line. However, with no support of buying, the rebounding stamina is rather weak and the stock remains bedeviled by the resistance from the 50-day MA line. Short-term investors are advisable to take profit at high during the rebound, since the rebounding room is unlikely in the predictable future. Resistance stance set at HK$1.82

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