Shanghai Pudong Development Bank Co. Ltd (SHA:600000) Trading Outlook

Shanghai Pudong Development Bank Co. Ltd (SHA:600000) Trading Outlook

Shanghai Pudong Development Bank Co. Ltd (SHA:600000) Trading Outlook

HEFFX Notes

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 16.26.

The projected lower bound is: 15.34.

The projected closing price is: 15.80.

Shanghai Pudong Development Bank Co. Ltd (SHA:600000) closed up 0.100 at 15.800. Volume was 0% below average (neutral) and Bollinger Bands were 60% narrower than normal.

Open High Low Close Volume___
15.680 15.850 15.650 15.800 22,909,944

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

Moving Averages: 10-period 50-period 200-period
Close: 15.74 15.91 15.83
Volatility: 13 19 38
Volume: 19,808,980 20,534,706 67,574,504

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

PUDONG DEV is currently 0.2% below 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 volume flowing into and out of 600000.SS at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on 600000.SS and have had this outlook for the last 2 periods.

Momentum

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 64.3411. This is not an overbought or oversold reading. The last signal was a buy 13 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 51.38. 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 23 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 74. This is not a topping or bottoming area. The last signal was a buy 23 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 14 period(s) ago.

SHANGHAI PUDONG DEVELOPMENT BANK CO., LTD. is a Chinese commercial bank. The Bank operates its businesses through corporate banking services, including corporate cash management solution, corporate supply chain financing, payment and settlement, assets custody and corporate annuities, among others; personal banking services, including personal saving, personal loan, bank card services, investment and financing, loan and financing, online banking services, information services and credit card services, among others, as well as treasury and market services. The Bank operates its businesses in domestic and overseas markets, with China as its main market.

The following two tabs change content below.
Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

You must be logged in to post comments :  
CONNECT WITH