Wing Tai (technical)

Wing Tai: no particular news to explain the steep 7% drop since the start of Aug. FY14 results still sometime away, due 27 Aug estimated. Technically, the clear break below the multiple support levels at $1.95 , $1.90 and $1.85 may be viewed as a negative, and while the key indicators are in oversold territory, there doesn't appear to be any signs of rebound yet. Next firm support is around the $1.75 level.