Citic Pacific has reversed to the upside after a correction from the high of HKD 23.00 seen in November 2010. Price actions have managed to stage a rebound from the 100-day moving average and trade back above the 50-day moving average. In addition, the Stochastic oscillator has flashed a bullish crossover signal at the oversold region which suggests that upside momentum has resurfaced. Given such positive configurations, Citic Pacific may see an upside push to test the immediate resistance at HKD21.85 follow by HKD23.00 next. On the other hand, failure to hold above the immediate support at HKD20.05 may negate the bullish tone to trigger a sell-off towards the next support at HKD18.50.