STOCKWATCH: Tsingtao Brewery falls through 50-day MA line; short-term to drop

Tsingtao Brewery (0168) failed to keep the 50-day moving average line at HK$2.675. Technically, it will slide down further in short terms. If it should stabilize at the level, mid-term hold is still technically acceptable. Further dive to test HK$2.4 is possible if it cannot return to the level. Do not bet on bottom and holders can stop loss first. Technically speaking, absorption at low for short-term technical rebound can be taken at HK$2.4.

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