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China Construction Bank (0939.HK) Buy On Dips

$0939.HK #China #Construction #Bank #HongKong #Stocks #Trading

China Construction Bank
Ticker: 0939.HK
Price: HKD5.85

Business Summary

CHINA CONSTRUCTION BANK CORPORATION is a commercial bank.

The Bank operates its businesses through corporate banking businesses, including corporate deposit, corporate credit loan, asset custody, enterprise annuity, trade financing, international settlement, international financing and value-added services, among others, personal banking businesses, including personal deposit, loan, bank card services, private bank services, foreign exchange trading and gold trading services, among others, and capital business.

The Bank operates its businesses in domestic and overseas markets.

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 6.02.

The projected upper bound is: 6.10.

The projected lower bound is: 5.58.

The projected closing price is: 5.84.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 18 white candles and 30 black candles for a net of 12 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 57.5757. This is not an overbought or oversold reading. The last signal was a buy 6 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 45.06. 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 buy 6 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 12. This is not a topping or bottoming area. The last signal was a buy 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 1 period(s) ago.

Rex Takasugi – TD Profile

CCB closed up 0.050 at 5.850. Volume was 29% below average (neutral) and Bollinger Bands were 16% wider than normal.

Open     High     Low     Close     Volume
5.760    5.860    5.720   5.850     185,020,384
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bearish
Long Term:         Bearish
Moving Averages: 10-period     50-period      200-period
Close:           5.75          6.12           6.28
Volatility:      26            27             28
Volume:          231,468,512   271,550,080   328,115,488

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

CCB is currently 6.8% below 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 moderate flows of volume out of 0939.HK (mildly bearish). Our trend forecasting oscillators are currently bearish on 0939.HK and have had this outlook for the last 18 periods. Our momentum oscillator has set a new 14-period high while the security price has not. This is a bullish divergence.

HEFFXhttp://www.heffx.com
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

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