Industrial and Coml Bank of China Ltd(HKG:1398) HEFFX Outlook

Industrial and Coml Bank of China Ltd(HKG:1398) HEFFX Outlook

Industrial and Coml Bank of China Ltd(HKG:1398)

HEFFX Notes Industrial and Coml Bank of China

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 4.56.

The projected upper bound is: 5.20.

The projected lower bound is: 4.84.

The projected closing price is: 5.02.

ICBC closed up 0.040 at 5.000. Volume was 40% above average (neutral) and Bollinger Bands were 86% wider than normal.

Open       High         Low           Close          Volume
4.920       5.020       4.920        5.000         389,793,792

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

Moving Averages: 10-period          50-period         200-period
Close:                       4.85                   4.43                    4.32
Volatility:                13                       26                        29
Volume:                  401,408,128     308,878,784     257,728,384

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 Industrial and Coml Bank of China
ICBC is currently 15.8% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect very strong flows of volume into 1398.HK (bullish). Our trend forecasting oscillators are currently bullish on 1398.HK and have had this outlook for the last 22 periods. Our momentum oscillator is currently indicating that 1398.HK is currently in an overbought condition.

HEFFX Momentum Industrial and Coml Bank of China
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 88.8889. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 15 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 81.34. 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 40 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 98. This is not a topping or bottoming area. The last signal was a sell 2 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 12 period(s) ago.

Industrial and Coml Bank of China Ltd is principally involved in the provision of banking and related financial services. The Bank mainly operates in corporate banking, personal banking and treasury businesses. Its corporate banking business provides loan, trade financing, deposit, corporate finance, custody and other related financial products and services to enterprises, government agencies and financial institutions. Its personal banking business provides loan, deposit, bank card, personal finance and other related financial products and services to individual customers. Its treasury business includes money markets, securities investments, self and valet foreign exchange trading and derivative financial instruments. In addition, it also provides insurance services and other financial related services.

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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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