Bank of China Ltd (HKG:3988) Trading Outlook
HEFFX Notes Bank of China Ltd
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.
By the way, prices are vulnerable to a correction towards 3.21.
The projected upper bound is: 3.63.
The projected lower bound is: 3.32.
The projected closing price is: 3.48.
Bank of China Ltd closed down -0.010 at 3.470. Volume was 47% above average (neutral) and Bollinger Bands were 18% wider than normal.
Open High Low Close Volume
3.490 3.510 3.440 3.470 410,001,216
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 3.34 3.17 3.21
Volatility: 21 32 29
Volume: 318,421,888 300,588,704 294,698,944
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 Bank of China Ltd
Bank of China Ltd is currently 8.1% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into 3988.HK (mildly bullish). Our trend forecasting oscillators are currently bullish on 3988.HK and have had this outlook for the last 18 periods. Our momentum oscillator is currently indicating that 3988.HK is currently in an overbought condition.
HEFFX Momentum Bank of China Ltd
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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 86.4407. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 3 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 73.69. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 45 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 158.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 9 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 30 period(s) ago.
BANK OF CHINA LIMITED is a China-based commercial bank. The Bank is mainly engaged in the provision of banking and related financial services, including commercial banking, investment banking, insurance business, direct investments and investment management business, fund management business and aircraft leasing business, as well as others. The Bank mainly operates its businesses in China mainland, Hong Kong, Macau and Taiwan, as well as other countries.
Latest posts by John Heffernan (see all)
- HANG SENG INDEX(INDEXHANGSENG:HSI) Hong Kong HEFFX Outlook - February 16, 2017
- SSE Composite Index(SHA:000001) Shanghai HEFFX Outlook - February 16, 2017
- SET Index(INDEXBKK:SET) Thailand HEFFX Outlook - February 16, 2017