STOCKWATCH: Keep sidelined for Brilliance for short-term

Brilliance China Automotive Holdings Ltd.(1114) tumbled through the supporting gateway of HK$1.5 and created a 52-week new low of HK$1.36 yesterday. Although it rebounded slightly this morning, the technical shape remained weak with RSI continuing slackness. From the trend of today, it suffered serious selling pressure and the weakness cannot be improved in the near future. Keep sidelined for short-term since it is expected to test new low in the late session. Near-term rebounding resistance set at HK$1.5.

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