Technical Analysis: Chinalco (2600.HK) rose 6.8% to HK$5.50, after a closer sell-off, the transaction increased to HK$419 million, while the average transaction volume in five days was HK$216 million. The stock began to fall from its record high of 8.75 Hong Kong dollars set in early April to the low of 4.925 Hong Kong dollars on Wednesday. From the technical picture point of view, this increase appears to be a technical rebound rather than the start of a new round of rising prices. Although the stock's rebound today broke the 10-day moving average, it is still within the falling channel that began in early May and is unlikely to return to the 50-day moving average (currently at HK$6.96); further strength may be The opportunity to sell rallies. Fundamentally, Merrill Lynch stated that Chinalco will face the challenge of falling alumina prices in the next 12-18 months, but the company's shift to the downstream aluminum business will coincide with the time, which may help counter the risk of falling alumina prices; Chinalco's neutral rating.