Poly Real Estate Group Co., Ltd(SHA:600048) Trading Outlook
HEFFX Notes Poly Real Estate Group
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 9.17.
The projected upper bound is: 10.66.
The projected lower bound is: 9.55.
The projected closing price is: 10.11.
Poly Real Estate Group closed down -0.400 at 10.070. Volume was 509% above average (trending) and Bollinger Bands were 88% wider than normal.
Open High Low Close Volume
10.510 10.810 10.000 10.070 323,427,776
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 9.57 8.88 9.30
Volatility: 60 38 56
Volume: 133,342,560 59,895,008 100,286,848
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.
Poly Real Estate Group is currently 8.2% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of 600048.SS at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on 600048.SS and have had this outlook for the last 33 periods.
HEFFX Candlesticks Poly Real Estate Group
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 25 white candles and 24 black candles for a net of 1 white candles.
A dark cloud occurred (which indicates that prices moved up strongly on the previous bar, opened higher, but then closed significantly lower). This implies weakness as the momentum appears to be shifting from the bulls to the bears. Note that the lower the close of the black candle (relative to the white candle), the more bearish the dark cloud pattern.
HEFFX Momentum Poly Real Estate Group
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 73.4336. This is not an overbought or oversold reading. The last signal was a buy 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 65.62. This is not a topping or bottoming area. However, the RSI just crossed below 70 from a topping formation. This is a bearish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 0 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 175.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.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 7 period(s) ago.
POLY REAL ESTATE GROUP CO., LTD is engaged in property development, commodity residential building distribution, and property management. It develops and distributes residential buildings, office buildings, hotels, shopping malls, exhibition halls and composite buildings. Its main projects include Guangzhou-based The Circle Pursuit of Perfection, Beijing-based one villa projects, Poly Lily Garden, Poly WestHill Imagination, and Shanghai-based Champagne Garden, among others.