Haitong Securities Rebound Expected

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By :  ,  Financial Analyst

Haitong Securities (6837.HK): Rebound Expected

Haitong Securities (6837.HK) has just reported that net income amounted to 1.40 billion yuan in July, up from 441 million yuan in June and 556 million yuan a year earlier.

Meanwhile, the stock has been rated as “buy” at BOCOM International.

On a daily chart, the stock is Rebounding from a Recent Low of HK$6.90

Source: GAIN Capital, TradingView

Bullish investors should take this level of HK$6.90 as Key Support (Stop-loss) Level.

The stock has climbed to levels around the 20-day moving average. A further rebound should bring the stock back to HK$8.11 and HK$8.55 on the upside.

Related tags: Equities

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