STOCKWATCH: discard Convenience Retail Asia at high for short-term

Convenience Retail Asia (8052) rebounded continuously after gaining technical support when it retreated to around 50-day MA line last week. Charts showed that it is about to enter the high resistance zone between HK$2.8 and HK$3. It went soft amid the weak broad market this morning and witnessed sluggish buying. Investors are suggested to dispose it at high for short-term despite the upward room in the late session. Expected to test the low level of HK$2.5 if it makes retreat.

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