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Anhui Wanwei Updated High-Tech Material Industry
Ticker: 600063:SS
Price: CNY3.82
Recommendation: Strong Buy
Business Summary
ANHUI WANWEI UPDATED HIGH-TECH MATERIAL INDUSTRY CO., LTD is a China-based company, principally engaged in the development, production and sales of polyvinyl alcohol and related products.
The Company’s main products include PVA, cement, PVA ultrashort fiber, slices, Vinyl Acetateethylene Emulsion (VAE) emulsion, rubber powder, methyl acetate and vinyl acetate, among others.
The Company distributes its products within domestic market and to overseas markets.
Price Performance
Relative Valuation
Technical Indicators
Overall, the bias in prices is: Sideways.
The projected upper bound is: 4.03.
The projected lower bound is: 3.61.
The projected closing price is: 3.82.
Candlesticks
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 5 black candles for a net of 1 black candles. During the past 50 bars, there have been 17 white candles and 30 black candles for a net of 13 black candles.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
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 13.7404. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 5 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 51.21. 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 3 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 -7. This is not a topping or bottoming area. The last signal was a sell 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 13 period(s) ago.
Rex Takasugi – TD Profile
WANWEI HI-TECH closed down -0.080 at 3.820. Volume was 13% below average (neutral) and Bollinger Bands were 93% wider than normal.
Open High Low Close Volume 3.890 3.920 3.800 3.820 28,218,700
Technical Outlook Short Term: Oversold Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 3.97 3.71 3.72 Volatility: 57 36 52 Volume: 63,150,780 23,857,782 33,328,164
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
WANWEI HI-TECH is currently 2.6% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term.
Our volume indicators reflect volume flowing into and out of 600063.SS at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on 600063.SS and have had this outlook for the last 10 periods.
Anhui Wanwei Updated High-Tech Material Industry (600063:SS) HEFFX Top Pick added by HEFFX on
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