Goldman Sachs said in the latest research report that CCB (00939.HK) -0.040 (-0.710%) Short selling $22.28M; Ratio 1.825% 's
net profit rose 8% year-on-year to RMB190 billion for the first nine
months, accounting for 80% of its estimated 2014 pre-provision operating
profit. The research house thought CCB's quarterly results were in line
with its expectations and maintained its Buy rating on the Bank, with a
12-month target price of $6.7.
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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