HK Land

HK Land : UOBK Technicals says the charts tip HK Land at Sell with TP US$7.50. Believes, the stock is likely to trade lower as it is unable to close above 15-year high on Jan. 25, 2013 (US$8.09). A break below its mid Bollinger band suggests further downside. Watch to see if its previous resistance at US$7.50 offers support and whether its MACD and Stochastics indicators could move lower after forming a bearish crossover respectively. Tips placing stops above US$8.10. UOBK fundamental research has a Sell call with Tp US$5.40 . The stock is down 0.3% at US$7.90