Credit Suisse said in the latest research report that ZIJIN MINING (02899.HK) -0.040 (-2.094%) Short selling $1.85M; Ratio 6.927% 's
3Q14 net profit increased 24% year-on-year and 46% quarter-on-quarter,
and excluding the one-off gain, the recurring net profit dropped 31%
quarter-on-quarter, mostly in line with expectations. The research house
upgraded its rating on the company from Neutral to Outperform and
lifted the target price from $2.2 to $2.
Shanghai Pechem (00338.HK) Trading Sell Last price: HK$2.43 Resistance: HK$2.60 Support: HK$2.27/2.13 Shanghai Pechem closed lower at HK$2.43 in a long dark candle yesterday, short of the 0.38x retracement level at HK$2.41. Given that the Slow Stochastics has breached the previous low and the MACD is under the centreline, the stock is likely to test the 0.5x retracement level at HK$2.27. If the stock breaches this support, it will then test the 0.62x retracement level of HK$2.13. Expected Timeframe: 2 weeks to 2 months Wisdom Group (01661.HK) Trading Sell Last price: HK$5.47 Resistance: HK$5.65 Support: HK$5.22/4.96 Wisdom Group gapped down to re-enter the moving average envelope yesterday on strong volume. With reference to the downside bias of both the Williams’ %R Indicator and the ROC, we expect the stock to test the moving average of the envelope at HK$5.22. If the stock crosses below the moving average of the ...
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