STOCKWATCH: continue to hold Manulife Financial

Manulife Financial Corporation (0945) performed choppily around the resistance level of HK$239 this morning. Charts showed that with RSI in the over-buying zone of 80, a short-term consolidation is necessary technically. However, since the stock saw minor discarding at HK$239 and the buying was active, the extend of retreat should be small and mid-term investors can continue to hold awaiting a rise. Expected to create a new high in late session. Short-term supporting stance set at HK$229.

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