Geely Automobile is looking to extend its bullish trajectory after undergoing a bullish breakout with strong volume.
RHB Retail Research (RHB) in a note today (Sept 2) said on Friday, the stock jumped above the HKD8.50 resistance level to confirm a bullish technical setup.
Trading volume has been increasing in tandem with the share price, showing strong bullish momentum is in play.
They expected follow-through price action to test the HKD9.20, followed by HKD9.80 levels.
However, a fall below the HKD8 supportlevel would kick-start the bearish phase.
China Hongqiao is attempting to stage a bullish breakout after printing a bullish candlestick.
The counter has been consolidating sideways below the HKD11 resistance level.
They observed thattrading volume has increased, showing that bullish momentum is gaining traction.
If it breaks past the immediate resistance, the stock should travel towards the next resistance at HKD11.70, followed by the one at HKD12.50.
A fall below the HKD10 supportlevel will resume the correction phase.
