After undergoing a bullish breakout, Lenovo’s bullish pathway may be extended.
RHB Retail Research (RHB) in a note today (June 24) said the stock has climbed above the HKD11.64 resistance, thereby confirming a bullish setup.
The trading volume has been increasing in tandem with its share price, which indicates that a bullish momentum is underway.
Expect followthrough momentum to lift the stock towards the next resistance of HKD12.50, then HKD13.50.
Conversely, falling below the HKD10.64 support would open the door to a correction.
BYD Electronic (International) still exhibiting a bullish setup despite undergoing a mild consolidation.
The counter has closed above the HKD38 resistance to confirm a bullish setup.
Meanwhile, the 21-day SMA line is moving upwards, showing that the short-term trend is bullish.
As long as the counter stays above the HKD38 breakout point, it may climb towards HK43, followed by HKD48.
On the flip side, falling below the HKD34 support will kick off the bearish phase.
