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CK Asset
Ticker: 1113.HK
Price: HKD43.80
Company News
Li Ka-shing’s CK Asset Holdings has sold a mixed residential and commercial project in Chengdu for US$1.02 billion, the latest mainland China asset disposal of the group.
The company said in an exchange filing late on Thursday that Chengdu Le Parc in the capital of southwestern Sichuan province was sold to Hong Kong-listed Yuzhou Group and Chengdu Ruizhou, giving it an estimated gain of HK$3.81 billion (US$492 million). The Chengdu project has 23,253 residential and commercial units, of which 16,503 units or 70.1 per cent have been sold.
“Li Ka-shing, the senior consultant of CK Asset, and chairman Victor Li Tzar-kuoi have full confidence in Hong Kong and the mainland,” the company said in a separate statement. “With the disposal, CK Asset still has more than 50 real estate projects in more than 20 cities.”
Business Summary
CK Asset Holdings Limited, formerly Cheung Kong Property Holdings Limited is an investment holding company mainly engaged in the property businesses.
The Company is involved in the property development, property Investment, hotel and serviced suite operation, property and project management.
In addition, the Company is engaged in aircraft leasing. The Company operates its business in Hong Kong, The Mainland, and Singapore.
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 44.75.
The projected upper bound is: 46.60.
The projected lower bound is: 40.85.
The projected closing price is: 43.72.
Candlesticks
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 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 46.0526. 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 43.37. 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 1 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 -40. This is not a topping or bottoming area. The last signal was a buy 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 sell 15 period(s) ago.
Rex Takasugi – TD Profile
CK ASSET closed up 1.100 at 43.800. Volume was 71% below average (consolidating) and Bollinger Bands were 11% narrower than normal.
Open High Low Close Volume 42.700 43.950 42.700 43.800 2,822,303
Technical Outlook Short Term: Neutral Intermediate Term: Bearish Long Term: Bearish
Moving Averages: 10-period 50-period 200-period Close: 43.42 45.47 49.08 Volatility: 33 41 44 Volume: 7,942,527 8,673,231 7,912,088
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
CK ASSET is currently 10.8% below its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term.
Our volume indicators reflect moderate flows of volume out of 1113.HK (mildly bearish). Our trend forecasting oscillators are currently bearish on 1113.HK and have had this outlook for the last 8 periods.
