Cheung Kong Property Holdings Ltd (HKG:1113) HEFFX Highlights

Cheung Kong Property Holdings Ltd (HKG:1113) HEFFX Highlights

Cheung Kong Property Holdings Ltd (HKG:1113) HEFFX Highlights

  • Cheung Kong Property Holdings will raise the price of its third batch of Ocean Pride apartments by 10 per cent, a week after selling out all 842 of the project’s earlier units, a marketing strategy that underscores the expectation that Hong Kong’s record home prices won’t succumb to gravity.
  • It missed out on prime Hong Kong land but the high price paid will boost the value of its properties.

Cheung Kong Property Holdings Limited is principally engaged in the property development and property investment businesses. The Company is also engaged in the hotel and serviced suite operation business, as well as the property and project management business. The Company has interests in three listed real estate investment trusts (REIT), including the Hui Xian REIT, Fortune REIT and Prosperity REIT. The Company’s diversified properties are mainly located in Hong Kong, the Mainland China, Singapore and the United Kingdom. The Company is also engaged in financing business through its subsidiaries.

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 55.50.

The projected upper bound is: 60.26.

The projected lower bound is: 57.84.

The projected closing price is: 59.05.

CK PROPERTY closed up 0.400 at 58.900. Volume was 13% below average (neutral) and Bollinger Bands were 27% narrower than normal.

Open       High        Low         Close       Volume
58.450    58.950    58.300    58.900    5,757,287

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

Moving Averages: 10-period     50-period     200-period
Close:                       57.69            55.27             53.70
Volatility:                10                  14                   26
Volume:                  5,485,854    6,899,930    6,551,446

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
CK PROPERTY is currently 9.7% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into 1113.HK (mildly bullish). Our trend forecasting oscillators are currently bullish on 1113.HK and have had this outlook for the last 46 periods. Our momentum oscillator is currently indicating that 1113.HK is currently in an overbought condition. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.

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 94.9495. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 7 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 76.19. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 9 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 208.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 6 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 0 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.

Latest posts by John Heffernan (see all)

You must be logged in to post comments :  
CONNECT WITH