STOCKWATCH: Hongkong Electric to bet on short term

Hongkong Electric Holdings (0006) maintained consolidation in a narrow fluctuation beneath HK$30. As reflected in the charts, it met strong technical support at 10-day moving average line and regained stability in the morning. It boomed in the afternoon and intended to return above 10-day MA line with turnover going along. Mid-term investors are advised to go on holding, while if it could not break through the HK$30 resistance level, the short-term investors are advised to dispose while high and to invest properly after breaking through the level. Resistance level is set at HK$29.7 and short-term

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