FIH (02038.HK) +0.090 (+2.233%) Short selling $6.72M; Ratio 5.342% issued a positive profit alert, expecting to record a substantial increase of 80% to 100% in net profit compared with 2013 (US$77.28 million). The increase was mainly due to the corresponding continuous enhancement of the group’s yield and operation efficiency; control of the cost of sales and general and administrative expenses; and optimisation of the research and development resources.
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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