STOCKWATCH: Phoenix suffers slackness; not bet on bottom

The slipping trend of Phoenix satellite Television Holdings (8002) came to a halt recently. With weak short-term technical indicators and lukewarm turnover, it would unlikely stage excellent performance in the near future due to lack of vivid turnover. Investors should stay sidelined and not bet on bottom in the short term. Near-term resistance stance set at HK$1.32.

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