Agricultural Bank Of China (HKG:1288) Bulls Push Stock Higher

Agricultural Bank Of China (HKG:1288) Bulls Push Stock Higher

Agricultural Bank Of China (HKG:1288) Bulls Push Stock Higher

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 3.54.

The projected lower bound is: 3.30.

The projected closing price is: 3.42.

Agricultural Bank Of China Limited

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 4 black candles for a net of 1 white candles. During the past 50 bars, there have been 31 white candles and 15 black candles for a net of 16 white candles.

Momentum Indicators
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 47.2728. This is not an overbought or oversold reading. The last signal was a buy 7 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 63.78. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 11 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 59. This is not a topping or bottoming area. The last signal was a sell 3 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 10 period(s) ago.

Rex Takasugi – TD Profile

ABC closed unchanged at 3.410. Volume was 152% above average (trending) and Bollinger Bands were 6% narrower than normal.

Open High Low Close Volume___
3.380 3.440 3.330 3.410 315,615,040

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 3.36 3.13 2.89
Volatility: 21 23 29
Volume: 170,353,568 132,878,816 131,886,040

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary
ABC is currently 17.9% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect very strong flows of volume into 1288.HK (bullish). Our trend forecasting oscillators are currently bullish on 1288.HK and have had this outlook for the last 40 periods.

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