8.HK PCCW - Buy above $4.20 (Range Trading)1. PCCW ( 0008.HK ) shows a very solid bottom at $4.20 since 2016.
2. $4.20 did not only show support on Aug 2003, Mar 2005, and Jan 2008 but also set a ceiling from 2008-2013.
3. An up day with strong volume on 27th May.
4. Dividend yield above 7% that suits for mid-run and range trading.
Trades:
BUY at any price between $4.20 & $4.40.
Upside Target: $4.80 (Actual range: $4.79-$4.86)
Downside Stop: $3.95 (Critical support at $3.98)
