Stock Picks (Hong Kong): Chongqing Rural Commercial Bank And Chow Tai Fook Jewellery

Business Today · Oct 13 19:48

RHB Investment Bank Bhd (RHB Research) has highlighted two Hong Kong-listed stocks with promising technical rebound potential, according to their latest report.Chongqing Rural Commercial Bank has shown a strong recovery, with a technical rebound in progress that could see it break past the immediate resistance level of HK$4.20. The stock has formed a long bullish candlestick, indicating renewed bullish momentum. If it successfully surpasses the HK$4.20 resistance, RHB Research expects fresh buying interest, which could push the stock towards HK$4.50, with a possible extension to HK$4.80. However, if the stock falls below HK$3.90, it could re-enter a correction phase.

Similarly, Chow Tai Fook Jewellery Group is eyeing further gains, having also printed a bullish candlestick in its latest session, reflecting increased buying pressure. Should the stock break above the key resistance level of HK$7.75, this would confirm a bullish setup, potentially driving it up to HK$8.50, and possibly even to HK$9.50. On the downside, falling below the HK$6.65 support would signal a return to its downward trend.

Both stocks present potential opportunities for investors as they test these critical levels in Hong Kong's volatile market.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

Stock Picks (Hong Kong): Chongqing Rural Commercial Bank And Chow Tai Fook Jewellery

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