STOCKWATCH: I-Cable Communications to test HK$4 support

I-Cable Communications (1097) rebounded last week but showed weak stamina in face of the resistance gateway of HK$4.5 due to lack of active turnover. It may retreat to consolidation technically. Dragged by the broad market, it tested the support of 100-day MA line and took on a double-head trend. With short-term technical indicators weakening, it is expected to re-test the level of HK$4. Investors can bet on technical rebound if it can stabilize over a vivid turnover. Not to bet on bottom for the time being.

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