STOCKWATCH: China Unicom short-term resistance stance at HK$14

China Unicom (0762) churned around HK$12-14 for most of the time recently and showed sign of undergoing rectangle consolidation. It approached the upper-band support of the consolidation zone again and is expected to stage rebound in the short term. Investors are advisable to collect it at low for short-term around HK$12.5. However, short-term investors are suggested to take profit near the resistance stance of HK$14 since the broad market remained weak and the stock still suffered thin turnover. Stop loss at HK$12.

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