STOCKWATCH: China Petroleum & Chemical supporting stance at HK$1.29

Adversely affected by the news of downgrade of profit forecast, China Petroleum & Chemical Corporation (0386) fell today with RSI undergoing over-selling. It is expected to perform weekly in the mid-term since the 10 and 20-day MA lines have dipped through the 50-day MA line. Supporting stance set at HK$1.29. Advisable to stop loss and leave the trading floor if it fails to stabilize at

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