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Hong Kong stocksMarket Updates

China Feihe

Posted on August 30, 2024 at 9:35 am (GMT+8)

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  • Technical Analysis: The report identifies China Feihe Ltd as a “technical buy,” suggesting that the stock is bottoming out and may start a new uptrend. Key technical indicators include:
    • Breakout of Falling Wedge: The stock has broken out of a falling wedge pattern, which, along with rising volume, indicates strong bullish interest.
    • Double Bottom Reversal: The stock confirmed a double bottom reversal after surpassing the HK$3.89 resistance level, now acting as support.
    • Positive Momentum Indicators: Indicators such as the MACD histogram, Stochastic Oscillator, and 23-period ROC have turned positive, reinforcing the bullish outlook.
  • Price Targets: The report sets several target prices for China Feihe, with the first target at HK$4.48, followed by potential targets of HK$5.00, HK$6.28, and HK$8.14, indicating substantial upside potential.
  • Company Overview: China Feihe Ltd is a dairy company that specializes in the production and sale of infant milk formula. It operates both in traditional markets and via e-commerce platforms, positioning itself strongly in the Chinese market.Thank you

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