According to China Government's Liaison Office in Macau announced that the State Council has approved the new opening time arrangements for three borders connecting Macau with Zhuhai from 18 December. The research house believes the policy for the Hengqin Border to be operational for 24 hours reflects the central government's support for the long-term development of Macau's gaming industry, which is expected to boost up visitor traffic. Cotai operators (Sands, Galaxy, Melco) will be benefited from the new border policy. Moreover, it is expected that MELCO CROWN (06883.HK) +1.700 (+2.628%) Short selling $381.27K; Ratio 7.636% 's Studio City project will benefit the most from the tourist flows as its location is right beside the border gate of Hengqin.
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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