STOCKWATCH: Brilliance China Automotive to bet on technical rebound

Brilliance China Automotive Holdings (1114) represented signs of terminating falling and was expected to gain stability. It rebounded at one time, but later retreated below the 10-day moving average line, lagged behind by the broad market and lack of accordance of the turnover. Showing fatigue technically, it is not likely to maintain consolidation for a time and the short-term investors are advised to wait and see. However, as it regained stability at the former low level, the descending room was expected to be limited and the investors might absorb while low to bet on technical rebound. Supporting level is set at HK$1.7 and short-term resistance stance at HK$2.

Related stock : (NIL)