China Telecom Corporation Limited (HKG:0728) HEFFX Highlights

China Telecom Corporation Limited (HKG:0728) HEFFX Highlights

China Telecom Corporation Limited (HKG:0728) HEFFX Highlights

  • China Telecom Ltd could participate in a plan to inject fresh capital into Oi SA, the Brazilian phone carrier under bankruptcy protection, a senior executive at the Brazilian firm said on Friday.
  • Ricardo Malavazi Martins, Oi’s chief financial officer, said at the sidelines of an event in Rio de Janeiro that both companies signed a confidentiality agreement about the plan. Oi’s management has proposed to inject up to 8 billion reais ($2.6 billion) worth of new capital into the company, so help it emerge faster from bankruptcy protection.

China Telecom Corporation Limited is an investment holding company principally engaged in telecommunications and related businesses. The Company provides integrated information services, including wireline and mobile telecommunications services, Internet access services, information services and other value-added telecommunications services. The Company mainly operates its business in domestic market.

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

The projected upper bound is: 3.99.

The projected lower bound is: 3.80.

The projected closing price is: 3.89.

CHINA TELECOM closed up 0.010 at 3.890. Volume was 39% below average (neutral) and Bollinger Bands were 21% wider than normal.

Open       High        Low        Close     Volume
3.870      3.890      3.830     3.890     30,826,172

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

Moving Averages: 10-period         50-period         200-period
Close:                       3.95                   3.84                  3.76
Volatility:                18                      16                       17
Volume:                  48,748,056      51,548,520      53,110,860

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

CHINA TELECOM is currently 3.5% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of 0728.HK at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on 0728.HK and have had this outlook for the last 44 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 22.2223. This is not an overbought or oversold reading. The last signal was a buy 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 46.09. 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 7 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 -144.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 4 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 sell 7 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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