STOCKWATCH: New World Development rebounds for short-term

New World Development (0017) retreated to the low level of HK$8 of April last week and re-gained techhical support. It returned to the 18-day MA line this week on a vivid turnover and is expected to test higher level in the short term technically. Certain profit-taking pressure exists in the late trading. Initial resistance stance set at HK$9.

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