Bank of China Limited (HKG:3988) Heffx Outlook
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 3.17.
The projected upper bound is: 3.53.
The projected lower bound is: 3.22.
The projected closing price is: 3.37.
Bank of China Candlesticks
A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 27 white candles and 19 black candles for a net of 8 white candles.
Bank of China 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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 80.0000. 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 68.49. 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 42 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 152.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.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 27 period(s) ago.
BANK OF CHINA is currently 4.8% 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 3988.HK (mildly bullish). Our trend forecasting oscillators are currently bullish on 3988.HK and have had this outlook for the last 15 periods.
BANK OF CHINA LIMITED is a China-based commercial bank. The Bank is mainly engaged in the provision of banking and related financial services, including commercial banking, investment banking, insurance business, direct investments and investment management business, fund management business and aircraft leasing business, as well as others. The Bank mainly operates its businesses in China mainland, Hong Kong, Macau and Taiwan, as well as other countries.
Increase your trading profits by trying Metastocks 30 day free trial.
Latest posts by HEFFX Australia (see all)
- UK FTSE 100 (.FTSE) falls in broad-based sell-off on trade fears - November 20, 2019
- Japanese Yen: USD/JPY (JPY=X) Japan’s Exports Post Worst Fall in 3 Years - November 20, 2019
- Australian Dollar: USD/AUD (AUD=X) pressure is coming from renewed concerns over a U.S.-China trade deal - November 20, 2019