STOCKWATCH: bet on technical rebound of China Everbright at HK$6.1

China Everbright Ltd.(0165) failed to overcome the pressure of 20-day MA line last week due to lack of vivid turnover. It fell sharply again yesterday amid the dismal market and may re-test the low level around HK$6 and construct double-bottom shape in the short term. The increasing turnover of yesterday indicated that the stock gained buying support at the lower position and is expected to secure technical support at the supporting gateway of HK$6 over the strong buying. Investors are suggested to bet on technical rebound around the level of HK$6.1. Near-term target price set at HK$6.8. Stop loss at HK$5.

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