$ROBOTPHOENIX(06871.HK) rose by +27%, with a volume ratio more than double. It's been almost a month since its listing. Previously, it had fallen more than 60% from its first-day high, and then suddenly came this big bullish candlestick. No substantial new news can be found.
Is this a capital self-rescue from an oversold rebound, or are people really starting to position for light industrial robotics at this level?
It looks more like the former – pulse rebounds after a new stock breaks its issue price in Hong Kong mostly don't last more than a few days. If the volume can't keep up, the entire area above the HKD 30.5 issue price is full of trapped positions🤔
The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
