share_log

Stock Picks (HK): CSOP Hang Seng Tech Index -2X ETF And Hansoh Pharmaceutical Group

Business Today ·  Nov 25, 2024 07:53
big

RHB Investment Bank Bhd (RHB Research) has identified two promising opportunities in the Hong Kong market for the day; CSOP Hang Seng Tech Index -2X ETF (ETF) And Hansoh Pharmaceutical Group (Hansoh).

The ETF shows strong bullish momentum after breaking above the HK$3.50 resistance level and the 21-day SMA line. RHB Research anticipates further upside towards HK$3.85 and subsequently HK$4.30. However, traders should monitor the HK$3 level as a support threshold, with a dip below this level potentially signalling a correction.

Hansoh is gaining traction after three consecutive bullish candlesticks, closing above the HK$18.50 resistance on strong volume. The stock is expected to continue its climb toward HK$19.50, with a further target of HK$20.50. RHB Research notes that HK$17 remains a key support level, with a breach potentially triggering a correction.

RHB Research advises traders to watch these stocks closely for continued bullish momentum.

big
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
    Write a comment