China Huarong Asset Management (HKG:2799) Mildly Bearish
Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
Intermediate term: Prices are ranging.
The projected upper bound is: 3.10.
The projected lower bound is: 2.98.
The projected closing price is: 3.04.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 2 black candles for a net of 4 white candles. During the past 50 bars, there have been 25 white candles and 13 black candles for a net of 12 white candles.
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 16.6667. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 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 43.65. 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. (*ERROR*: Function did not return a value)
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -105.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 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 38 period(s) ago.
Rex Takasugi – TD Profile
CHINA HUARONG closed unchanged at 3.040. Volume was 78% below average (consolidating) and Bollinger Bands were 59% narrower than normal.
Open High Low Close Volume___
3.020 3.070 3.020 3.040 1,303,000
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 3.06 3.07 2.93
Volatility: 13 13(*ERROR*: Function did not return a value)
Volume: 3,583,374 8,220,902 6,259,103
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.
CHINA HUARONG is currently 3.7% above its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of 2799.HK (mildly bearish). Our trend forecasting oscillators are currently bearish on 2799.HK and have had this outlook for the last 26 periods. The security price has set a new 14-period low while our momentum oscillator has not. This is a bullish divergence.