STOCKWATCH: Hutchison Whampoa short-term resistance at HK$80

Hutchison Whampoa Ltd (0013) declined gradually with short-term technical shape deteriorating. It rebounded amid the broad market this morning and RSI also recovered from the low position. A technical rebound is required. Charts showed that the recent resistance existed around the 10-day MA line of HK$80, to which if it can return, the downward trend would come to a halt in the short run. Investors can absorb for mid-term, otherwise wait-and-see attitude is preferred. Supporting stance set at HK$77.

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