Bank of East Asia Ltd (HKG:0023) HEFFX Highlights

Bank of East Asia Ltd (HKG:0023) HEFFX Highlights

Bank of East Asia Ltd (HKG:0023) HEFFX Highlights

  • Bank of East Asia hopes the worst is behind it
  • Bank of East Asia and other Major banks collaborate on new platform in Singapore
  • Bank of East Asia, offer credit cards to Chinese consumers
  • Bank of East Asia is at the center of a proxy fight between unlikely partners: Elliott Associates, the Hong Kong based Li family, Sumitomo and Caixabank from Barcelona
  • Bank of East Asia is the only remaining big independent commercial bank in Hong Kong

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 33.38.

The projected lower bound is: 31.54.

The projected closing price is: 32.46.

BANK OF E ASIA closed up 0.050 at 32.450. Volume was 74% below average (consolidating) and Bollinger Bands were 18% narrower than normal.

Open          High          Low           Close         Volume
32.400      32.500      32.050      32.450      445,064

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

Moving Averages: 10-period      50-period      200-period
Close:                       32.59             32.07              32.09
Volatility:                12                   18                    25
Volume:                   955,645        1,274,584      1,847,784

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
BANK OF E ASIA is currently 1.1% above its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of 0023.HK at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on 0023.HK and have had this outlook for the last 14 periods.

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 30.6124. This is not an overbought or oversold reading. The last signal was a sell 2 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 52.92. 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 60 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 -39. This is not a topping or bottoming area. The last signal was a sell 2 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 15 period(s) ago.

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John Heffernan

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

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