STOCKWATCH: Tong Ren Tang approaches triangle breakthrough; short-term cautious

Tong Ren Tang Technologies (8069) has repeatedly stabilized at HK$5 level since retreat in early June, indicating some technical support at the gateway. According to its retreating trend, triangle consolidation is reflected by chart, and it should end next week technically. The tendency shows possibility of breakthrough at any time. Short-term investment can be made if it bottoms technically after breaking through 50-day moving average line at HK$5.15 with support of turnover. Target price is set at HK$6. If HK$5 lost, it is expected to come down to test 100-day moving average line at HK$4. At present, investors are suggested to be cautious.

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