China Construction Bank (HKG:0939) Trending Upwards
Overall, the bias in prices is: Upwards.
Short term: Prices are stalling.
Intermediate term: Prices are trending.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 6.22.
The projected lower bound is: 5.77.
The projected closing price is: 6.00.
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 27 white candles and 20 black candles for a net of 7 white candles.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
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 82.0895. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 2 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 61.10. 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 6 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 32. This is not a topping or bottoming area. The last signal was a sell 6 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 sell 6 period(s) ago.
Rex Takasugi – TD Profile
CCB closed up 0.050 at 5.980. Volume was 41% below average (neutral) and Bollinger Bands were 23% narrower than normal.
Open High Low Close Volume___
5.940 6.000 5.910 5.980 196,489,072
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 5.91 5.64 5.10
Volatility: 36 25 28
Volume: 325,490,080 333,790,368 283,978,528
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.
CCB is currently 17.2% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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 77 periods.
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