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<Research>CLSA: SHK PPT Breaks Multi-Yr Trading Range w/ CN Internet & HK Tech Sectors Showing Renewed Strength
Recommend 15 Positive 21 Negative 3 |
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With a series of key breakthroughs in major indices and leading stocks, the Chinese internet and Hong Kong tech sectors are showing renewed strength, CLSA commented in its research report. Alibaba (BABA.US) has busted above its 50-day MA and the top of its months-long falling wedge. This pattern supports a price recovery to the October 2025 highs at USD192-193. The long-term structure remains bullish, with an extended target of USD230-240. MEITUAN-W (03690.HK) is building a base above HKD92 with improving momentum. If it can break above the HKD108-109 area, it will confirm a trend reversal and open an initial target of HKD130-131. WUXI BIO (02269.HK) has formed a tactical base above the 200-day MA and escalated above the 50-day MA. The initial upward target is HKD42-43, while the second target is HKD54-55. SHK PPT (00016.HK) has also broken out from its multi-year trading range, which marks the end of a five-year consolidation period and supports an upside target of HKD160-165. AAStocks Financial News |
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