China Construction Bank Corporation(HKG:0939) HEFFX Outlook
HEFFX Notes China Construction Bank
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 5.41.
The projected upper bound is: 6.02.
The projected lower bound is: 5.59.
The projected closing price is: 5.80.
CCB closed unchanged at 5.790. Volume was 1% above average (neutral) and Bollinger Bands were 50% wider than normal.
Open High Low Close Volume
5.790 5.800 5.760 5.790 309,688,512
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 5.72 5.31 5.07
Volatility: 14 27 28
Volume: 413,158,240 339,840,800 274,593,408
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 China Construction Bank
CCB is currently 14.3% above its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into 0939.HK (mildly bullish). Our trend forecasting oscillators are currently bullish on 0939.HK and have had this outlook for the last 57 periods. Our momentum oscillator is currently indicating that 0939.HK is currently in an overbought condition.
HEFFX Momentum China Construction Bank
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 82.4999. 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 72.37. 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 4 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 75. This is not a topping or bottoming area. The last signal was a sell 3 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 10 period(s) ago.
China Construction Bank Corporation is a commercial bank. The Bank operates its businesses through corporate banking business, including corporate deposit, corporate credit loan, asset custody, enterprise annuity, trade financing, international settlement, international financing and value-added services, among others, and personal banking business, including personal deposit, loan, bank card services, private bank services, foreign exchange trading and gold trading services, among others. The Bank also involves in the provision of electronic banking, Internet banking, mobile phone banking and telephone banking services, insurance products, including life insurance, property insurance, health insurance and others, as well as fund management and wealth investment services. The Bank operates its businesses in domestic and overseas markets.
Latest posts by John Heffernan (see all)
- HANG SENG INDEX (INDEXHANGSENG:HSI) Hong Kong HEFFX Outlook - December 5, 2016
- SSE Composite Index (SHA:000001) HEFFX Outlook Shanghai - December 5, 2016
- Euro (€) ⇨ US Dollar ($)(EURUSD) HEFFX Outlook - December 5, 2016