Sinotruk (Hong Kong)'s uptrend may be extended after it breached the resistance on high volume.
RHB Retail Research (RHB) in a note today (July 29) said the stock has surged above the 21-day SMA line and pushed past the HKD20 resistance – thereby affirming the bullish setup.
Riding on the renewed momentum, it may head for the next resistance of HKD22, followed by HKD24.
On the flip side, breaching the HKD18 support would lead to the resumption of a bearish phase.
AviChina Industry & Technology's bullish trajectory may return after the stock breached a resistance point on strong volume.
The counter has printed a bullish candlestick and closed above the HKD3.65 resistance.
The 21-day SMA line is rounding upwards, ie short-term trend is bullish.
Expect a positive price action to follow through, and the stock may test the next resistance of HKD3.90, followed by HKD4.15.
Towards the downside, falling below the HKD3.40 support would nullify the bullish setup.