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NWD Plunges 10%+ to Below HKD10 Mark
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NEW WORLD DEV (00017.HK) had recently notched a multi-day streak of massive gains. It even climbed yesterday (19th) to HKD11.07, its highest level in more than two years, with the 9-day RSI once reaching an extremely overbought level of 96.

This streak, however, came to an end today (20th). NEW WORLD DEV saw a sharp pullback, plunging by as much as 13.8% to a bottom of HKD9.54. It last traded at HKD9.88, down 10.75%, with a volume of 45.1024 million shares, involving HKD457 million. The 9-day RSI also fell back to 69.

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