China National Building Material Co Ltd(HKG:3323) Trading Outlook

China National Building Material Co Ltd(HKG:3323) Trading Outlook

China National Building Material Co Ltd(HKG:3323) Trading Outlook

HEFFX Notes China National Building Material

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 3.66.

The projected upper bound is: 4.04.

The projected lower bound is: 3.65.

The projected closing price is: 3.84.

CNBM closed up 0.020 at 3.840. Volume was 522% above average (trending) and Bollinger Bands were 47% narrower than normal.

Open          High         Low         Close         Volume
3.800         4.000       3.680       3.840        121,576,000

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

Moving Averages: 10-period          50-period           200-period
Close:                       3.72                    3.56                     3.71
Volatility:                31                        36                        43
Volume:                  41,957,148         20,949,416        21,907,800

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 National Building Material
CNBM is currently 3.6% above its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect moderate flows of volume into 3323.HK (mildly bullish). Our trend forecasting oscillators are currently bullish on 3323.HK and have had this outlook for the last 47 periods.

HEFFX Momentum China National Building Material
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 63.1579. This is not an overbought or oversold reading. The last signal was a buy 1 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 63.95. 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 buy 63 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 193.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 4 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 buy 1 period(s) ago.

China National Building Material Company Limited is an investment holding company. The Company operates in six segments: Lightweight building materials, which is engaged in production and sale of lightweight building materials; Concrete, which is engaged in production and sale of concrete; Cement, which is engaged in production and sale of cement; Engineering services, which is engaged in provision of engineering services to glass and cement manufacturers and equipment procurement; Glass fiber and composite materials, which is engaged in production and sale of glass fiber and composite materials, and Others, which is engaged in merchandise trading business and others.

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