Greatwall Motors 2333:HK bouncing off support - quick 10%
Greatwall Motors 2333:HK has been unstoppable since as early as last July.
It's made a pullback over the past month. It has bounced off support of 23.15, and has just broken through resistance of 25.50.
If it is to follow the current trajectory, there should be a quick 10% rebound in the coming days to next resistance at 28.30, with a medium-term TP of 33.00.
If that's not enough, a couple of investment banks have set their TP at a range of $35-$40. Plus, 2333.HK are buying into the chip market. The latter point is significant because it panders to central government policy.
Only caveats here:
Most of China is on holidays for the next 10 days, so things might slow down a bit - but that might also suggest less competition to get in, if you were so inclined, and...
DYOR always.
It's made a pullback over the past month. It has bounced off support of 23.15, and has just broken through resistance of 25.50.
If it is to follow the current trajectory, there should be a quick 10% rebound in the coming days to next resistance at 28.30, with a medium-term TP of 33.00.
If that's not enough, a couple of investment banks have set their TP at a range of $35-$40. Plus, 2333.HK are buying into the chip market. The latter point is significant because it panders to central government policy.
Only caveats here:
Most of China is on holidays for the next 10 days, so things might slow down a bit - but that might also suggest less competition to get in, if you were so inclined, and...
DYOR always.