STOCKWATCH: CPCC shows double-head shape

China Petroleum & Chemical Corporation (0386) gained support at the Bolliger¡¦s low-band around HK$1.41 and closed high against the dismal market on an insufficient turnover. The rebound is a short-term technical one, and the stock took on a double-head trend and may continue to test the supporting gateway of HK$1.4 in the short term. Not to buy and bet on rebound now. Short -term investment is wise if it can stabilize at the level of HK$1.4. Near-term

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