HUTCHISON (00013.HK) +2.100 (+2.027%) Short selling $67.78M; Ratio 13.815% 's
entering into the formal agreement in regard to the acquisition of the
UK mobile telecom operator O2 is believed to be a positive step for the
company, JP Morgan said in a report. Given that the transaction is still
pending the approval from the regulatory authority (may take at least
one year) and the synergy effect will not be seen immediately, so the
deal will not push up HUTCHISON's share price remarkably in the short
term.
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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