STOCKWATCH: Cheung Kong meets resistance at HK$85, bet on bottom

Cheung Kong (0001) hovered in a narrow range around the gateway of HK$85, but could not break through the level, indicating big technical resistance existing in the terrain. With RSI being in stagnation and turnover withering, investors showed lack of confidence in the later performance of the stock. It is advisable to wait and see in short term and not to bet on bottom. The supporting stance is set at HK$82.5.

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