STOCKWATCH: Manulife Financial short-term resistance at HK$214

Manulife Financial (0945) had been highly recommended to the investors at the supporting stance of HK$206 in the past two weeks. It staged strong performance this morning with the price re-approaching the upper resistance of the recent consolidation zone while turnover also increasing. As reflected in charts, the short-term technical resistance stance exists at HK$214. The near-term target can jump to HK$220 if the level can be overcome. Otherwise, it may maintain the rectangle-shape consolidation. Investors are suggested to continue to hold or absorb it at low for mid-term. Supporting stance set at HK$207.

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