STOCKWATCH: Television Broadcasts to turn strong if HK$32.5 is secured

Television Broadcasts (0511) rebounded after obtaining technical support at the gateway of HK$30 yesterday. It continued to soar amid the bouncing broad market and returned above the 20-day MA line today. Following a surging in the afternoon, it tested the recent resistance stance of HK$32.5, if which can be maintained, it will see improved technical shape in the foreseeable future. Expected to test the high level of HK$34.5 in the late trading or re-test the support of HK$30 if the resistance stance cannot be overcome in the short term.

Related stock : (511)