China Construction Bank Corporation (HKG:0939) Opens Banks In Malaysia

China Construction Bank Corporation (HKG:0939) Opens Banks In Malaysia

China Construction Bank Corporation (HKG:0939) Opens Banks In Malaysia

  • China Construction Bank (Malaysia) Bhd (CCBM) is the first foreign commercial bank to be granted a banking licence in Malaysia in six years.
  • CCBM is the third China-based bank in Malaysia after the Bank of China (Malaysia) Bhd and Industrial and Commercial Bank of China (Malaysia) Bhd.
  • In his speech today at the opening of the bank, Prime Minister Datuk Seri Najib Razak said the establishment of the China Construction Bank (CCB) branch in Malaysia is timely after the recently concluded Belt and Road Forum for International Cooperation in Beijing.
  • China Construction Bank Corporation trades its securities on Nasdaq Dubai

China Construction Bank Corporation is a commercial bank. The Bank operates its businesses through corporate banking business, including corporate deposit, corporate credit loan, asset custody, enterprise annuity, trade financing, international settlement, international financing and value-added services, among others, and personal banking business, including personal deposit, loan, bank card services, private bank services, foreign exchange trading and gold trading services, among others. The Bank also involves in the provision of electronic banking, Internet banking, mobile phone banking and telephone banking services, insurance products, including life insurance, property insurance, health insurance and others, as well as fund management and wealth investment services. The Bank operates its businesses in domestic and overseas markets.

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

By the way, prices are vulnerable to a correction towards 6.26.

The projected upper bound is: 6.77.

The projected lower bound is: 6.40.

The projected closing price is: 6.58.

CCB closed up 0.020 at 6.580. Volume was 19% below average (neutral) and Bollinger Bands were 17% narrower than normal.

Open     High      Low     Close     Volume
6.570    6.610    6.520    6.580    229,478,416

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

Moving Averages: 10-period          50-period         200-period
Close:                       6.47                   6.34                   5.98
Volatility:                16                      19                        25
Volume:                  291,204,256    238,247,808    294,224,992

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 10.1% 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 0939.HK at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on 0939.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 58.2278. 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 63.98. 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 66 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 97. This is not a topping or bottoming area. The last signal was a sell 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 buy 6 period(s) ago.

The following two tabs change content below.

John Heffernan

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

You must be logged in to post comments :  
CONNECT WITH