Pak Tak International Limited(HKG:2668) Trading Outlook
HEFFX Notes Pak Tak International
Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
Intermediate term: Prices are trending.
By the way, prices are vulnerable to a correction towards 1.00.
The projected upper bound is: 1.23.
The projected lower bound is: 0.98.
The projected closing price is: 1.11.
Pak Tak International closed up 0.080 at 1.110. Volume was 6,370% above average (trending) and Bollinger Bands were 3% narrower than normal.
Open High Low Close Volume
1.030 1.310 1.030 1.110 404,550,016
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 0.96 1.02 0.90
Volatility: 72 79 82
Volume: 41,391,000 9,389,761 3,904,433
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 Pak Tak International
Pak Tak International is currently 22.9% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect very strong flows of volume into 2668.HK (bullish). Our trend forecasting oscillators are currently bullish on 2668.HK and have had this outlook for the last 1 periods.
HEFFX Candlesticks Pak Tak International
A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 4 white candles and 5 black candles for a net of 1 black candles. During the past 50 bars, there have been 17 white candles and 29 black candles for a net of 12 black candles.
A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).
HEFFX Momentum Pak Tak International
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 65.0794. This is not an overbought or oversold reading. The last signal was a sell 0 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 63.49. 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 35 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 241.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 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 buy 1 period(s) ago.
Pak Tak International Limited is an investment holding company. The Company, along with its subsidiaries, is engaged in the manufacture, on an original equipment manufacturer (OEM) basis, and trading of men’s, ladies’ and children’s knit-to-shape garments mainly to the United States of America (USA) and Europe. The Company operates as a single business segment. Its operations are located in Hong Kong, Mainland China and Thailand. The Company’s subsidiaries include Addlink Limited, Pak Tak Knitting & Garment Factory Limited, Pak Tak Knitting & Garment Factory (Thailand) Company Limited, Rich Source Limited, Richtime Knitting Limited, Pak Tak (America) Inc. and Sunny Dragon International Limited, among others.
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