Anhui Conch Cement Company Limited (600585.SS) $600585.SS #Stocks #China #Construction #Materials Target Price CNY ¥63.00
Anhui Conch Cement
Ticker: 600585.SS
Price: CNY ¥63.00
Recommendation: Strong Buy
Sector Outlook
The global construction chemical market is estimated to be valued at US$ 70 billion in the year 2025, growing at a CAGR of 6.5% in the period 2019 to 2025. Growth of the market is driven by factors such as growth of construction industry, high demand from emerging nations, increasing urbanization, focus on energy conservation and ameliorating economic conditions.
The global construction chemical industry is witnessing rapid increase in demand of concrete admixtures. It leads to reduction of concrete construction cost by modifying the properties of hardened concrete, thereby ensuring better quality during mixing, transporting, placing, and curing. In an effort to monetize the demand, manufacturers have already begun launch of various concrete admixture products.
Business Summary
Anhui Conch Cement Co Ltd is a China-based company principally engaged in production and sale of cement, commodity clinker and aggregate.
The Company’s main cement products included 32.5-grade cement, 42.5-grade cement and 52.5-grade cement, which are widely used in construction projects of large-scale national infrastructures such as railways, expressways, airports and hydraulic power as well as urban property, cement products and the rural markets.
The Company distributes its products within domestic market and to overseas markets.
Shayne Heffernan Trade Idea
“Our current price target of Anhui Conch Cement will come in around CNY ¥63.04 giving the stock a price increase of +16.52%.”
Price Performance
Relative Valuation
Technical Indicators
Overall, the bias in prices is: Downwards.
Note: this chart shows extraordinary price action to the downside.
By the way, prices are vulnerable to a correction towards 55.98.
The projected upper bound is: 56.61.
The projected lower bound is: 51.44.
The projected closing price is: 54.02.
Candlesticks
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 22 white candles and 28 black candles for a net of 6 black candles.
Momentum Indicators
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 23.2587. This is not an overbought or oversold reading. The last signal was a buy 21 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 37.32. 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 77 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 -93. This is not a topping or bottoming area. The last signal was a buy 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 sell 29 period(s) ago.
Rex Takasugi – TD Profile
ANHUI CONCH closed up 0.700 at 54.100. Volume was 15% below average (neutral) and Bollinger Bands were 32% narrower than normal.
Open High Low Close Volume 53.590 54.540 53.560 54.100 27,306,292
Technical Outlook Short Term: Neutral Intermediate Term: Bearish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 55.11 57.87 50.71 Volatility: 22 28 38 Volume: 28,854,608 25,286,548 26,896,888
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
ANHUI CONCH is currently 6.7% above its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods.
Our volume indicators reflect volume flowing into and out of 600585.SS at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on 600585.SS and have had this outlook for the last 25 periods.
Anhui Conch Cement Company Limited (600585.SS) Target Price CNY ¥63.00 added by HEFFX on
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