CITIC Ltd (HKG:0267) Panda Debut Plans

CITIC Ltd (HKG:0267) Panda Debut Plans

CITIC Ltd (HKG:0267) Panda Debut Plans

  • China Citic Bank plans Panda debut
  • CITIC’s M&A Fund Launches Major Education Initiatives in China
  • CITIC Capital has led a RMB 120 million (US$17 million) series B round in China Great Wall Environment Improving Co., Ltd
  • Japan’s FamilyMart considering CITIC and CP Group partnerships

CITIC LIMITED is a Hong Kong-based investment holding company principally engaged in financial businesses. The Company operates through six segments. Financial Services segment is engaged in the provision of banking, trust, asset management, securities and insurance services. Resources and Energy segment is engaged in the exploration, processing and trading of crude oil, coal and iron ore. Manufacturing segment is engaged in the manufacture of special steels, heavy machineries and aluminum wheels, among others. Engineering Contracting segment is engaged in the provision of contracting and design services for infrastructure, real estate and industrial projects. Real Estate segment is engaged in the development, sales and holding of properties. Others segment is engaged in the investment and operation of infrastructures, telecommunication businesses, motor and food products trading, commercial aviation services and publication, among others.

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 11.35.

The projected upper bound is: 12.39.

The projected lower bound is: 11.61.

The projected closing price is: 12.00.

CITIC closed down -0.020 at 11.980. Volume was 34% above average (neutral) and Bollinger Bands were 83% wider than normal.

Open         High          Low         Close         Volume
12.000      12.080      11.840      11.980      11,904,937

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

Moving Averages: 10-period          50-period         200-period
Close:                       11.52                  11.18                  11.52
Volatility:                26                      22                       23
Volume:                   15,255,042      10,597,087       9,498,654

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
CITIC is currently 4.0% above its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect moderate flows of volume into 0267.HK (mildly bullish). Our trend forecasting oscillators are currently bullish on 0267.HK and have had this outlook for the last 15 periods. Our momentum oscillator is currently indicating that 0267.HK is currently in an overbought condition.

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 85.0000. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 9 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 73.26. 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 112 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 145.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 10 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 15 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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