Tingyi (Cayman Islands) is poised to extend the upside movement after a bullish breakout on strong volume.
RHB Retail Research (RHB) in a note today (Aug 28) said yesterday, the stock broke past the HKD10 mark with a long bullish candlestick, showing bullish momentum is underway now.
The momentum may propel the stock towards the next resistance at HKD11, followed by HKD12.
On the flipside, falling below the HKD9.20 support would resume the correction phase.
China Coal Energy is eyeing to stretch the bullish trajectory after breaking past the resistance on high volume.
RHB noted that they observed the 21-day SMA line is moving upwards, showing the short-term trend is bullish.
After breaking past the HKD9.02 resistance, the counter may climb towards the next resistance at HKD10, followed by HKD11.
If it breaches s the HKD8.50 support level, this will kick off a bearish phase.
