STOCKWATCH: collect CITIC Pacific in batch below HK$20

CITIC Pacific Ltd.(0267) built an obvious head shape and approached the low level of April again. With the slowing downtrend, it is expected to secure technical support around HK$20. However, with turnover remaining thin, it cannot rule out the possibility of testing the support of HK$20 dragged by the broad market. Investors can absorb it in batch around the level of HK$20 to bet on technical rebound since it is expected to find strong support at another supporting stance of HK$19. Stop loss at HK$18.9.

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