SSE Composite Index (SHA:000001) Shanghai HEFFX Trading Outlook

SSE Composite Index (SHA:000001) Shanghai HEFFX Trading Outlook

SSE Composite Index (SHA:000001) Shanghai HEFFX Trading Outlook

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 3,203.48.

The projected lower bound is: 3,070.60.

The projected closing price is: 3,137.04.

SSE COMPOSITE closed down -24.918 at 3,136.753. Volume was 2% below average (neutral) and Bollinger Bands were 40% narrower than normal.

Open            High            Low             Close           Volume
3,156.686   3,167.029   3,136.267   3,136.753    178,362

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

Moving Averages: 10-period    50-period    200-period
Close:                       3,138.61      3,173.83       3,036.99
Volatility:                10                 13                  17
Volume:                   159,932      204,084       177,216

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 Shanghai
SSE COMPOSITE is currently 3.3% above its 200-period moving average and is in an downward 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 .SSEC at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .SSEC and have had this outlook for the last 21 periods.

Shanghai, Trading, HEFFX, Outlook, Shayne, Heffernan, Asia, SSE, Composite, Index, 000001

HEFFX Shanghai 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 65.0528. 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 46.89. 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 sell 29 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 42. This is not a topping or bottoming area. The last signal was a sell 0 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 5 period(s) ago.

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John Heffernan

Admin at XEDV

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