According to Morgan Stanley's report, it is believed that CHEUNG KONG (00001.HK) +0.200 (+0.140%) Short selling $84.50M; Ratio 7.983% 's share price has a chance of 80% or above to outperform the industry in the coming 60 days, mainly because the announced reorganization plan of Chueng Kong and Hutchison has helped improve the transparency, removed double discount and signified a decline in WACC, which suggests re-rating opportunities. In addition, Cheung Kong planned to raise the dividend payment for this and next year. The group can also benefit from the further integration of telecom business in the UK and Italy. The broker gave the Overweight rating on the stock.
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 ...
Comments
Post a Comment