SSE Composite Index(SHA:000001) HEFFX Trading Outlook

SSE Composite Index(SHA:000001) HEFFX Trading Outlook

SSE Composite Index(SHA:000001) Trading Outlook Shanghai

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 3,225.66.

The projected lower bound is: 3,094.47.

The projected closing price is: 3,160.06.

SSE COMPOSITE closed up 0.411 at 3,159.205. Volume was 59% below average (consolidating) and Bollinger Bands were 10% narrower than normal.

Open           High           Low             Close            Volume
3,157.906    3,165.954  3,154.281   3,159.205    74,139

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

Moving Averages: 10-period    50-period    200-period
Close:                       3,124.28     3,170.02       3,032.59
Volatility:                10                 13                   17
Volume:                   141,327       200,832        178,408

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 4.2% above its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. 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 17 periods.

 

HEFFX Candlesticks Shanghai
A white body occurred (because prices closed higher than they opened).

During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white candles.

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

HEFFX Momentum Shanghai

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 95.7142. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 10 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 52.75. 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 25 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 187.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 3 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 1 period(s) ago.

The following two tabs change content below.

John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

Leave a Reply

Your email address will not be published.


By submitting this form, you are granting: heffx, 3 Raffles Place, Singapore, 048617, permission to email you. You may unsubscribe via the link found at the bottom of every email. (See our Email Privacy Policy (http://constantcontact.com/legal/privacy-statement) for details.) Emails are serviced by Constant Contact.