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CLP (0002.HK) Buy On Dips

$0002.HK #CLP #HongKong #Stocks #Trading

CLP
Ticker: 0002.HK
Price: HKD74.40

Business Summary

CLP Holdings Limitedis an investment holding company mainly engaged in the generation and supply of electricity.

The Company operates a portfolio of generating assets, harnessing a wide range of fuels including coal, gas, nuclear, wind, hydro and solar.

Its business also includes transmission and distribution, and electricity and gas retail activities.

Along with subsidiaries, the Company operates its business through five segments: the Hong Kong segment, the Mainland China segment, the India segment, the Southeast Asia and Taiwan segment, and the Australia segment.

The Hong Kong segment operates a vertically-integrated regulated business. It is involved of generation, distribution and provision of electricity supply.

Price Performance

Relative Valuation

Technical Indicators

Overall, the bias in prices is: Sideways.

The projected upper bound is: 76.64.

The projected lower bound is: 72.04.

The projected closing price is: 74.34.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 20 white candles and 30 black candles for a net of 10 black candles.

An engulfing bullish line occurred (where a white candle’s real body completely contains the previous black candle’s real body). The engulfing bullish pattern is bullish during a downtrend. It then signifies that the momentum may be shifting from the bears to the bulls.

If the engulfing bullish pattern occurs during an uptrend (which appears to be the case with CLP HOLDINGS), it may be a last engulfing top which indicates a top. The test to see if this is the case is if the next candle closes below the top of the current (white) candle’s real body.

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 83.3333. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 9 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 54.23. 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 13 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 99. 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 7 period(s) ago.

Rex Takasugi – TD Profile

CLP HOLDINGS closed up 0.600 at 74.400. Volume was 21% below average (neutral) and Bollinger Bands were 57% narrower than normal.

Open      High     Low       Close      Volume
73.650    74.400   73.300    74.400     2,987,418
Technical Outlook
Short Term:        Overbought
Intermediate Term: Bullish
Long Term:         Bearish
Moving Averages: 10-period     50-period      200-period
Close:           73.18         75.30          79.03
Volatility:      10            19             26
Volume:          3,074,557     3,715,839      3,733,205

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

CLP HOLDINGS is currently 5.9% below its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future.

Our volume indicators reflect volume flowing into and out of 0002.HK at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on 0002.HK and have had this outlook for the last 0 periods.

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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