COSCO Shipping HEFFX Highlights: Stalling Price

COSCO Shipping HEFFX Highlights: Stalling Price

COSCO Shipping International (Singapore) Co., Ltd., formerly COSCO Corporation (Singapore) Limited, is an investment holding company. The Company is engaged in operating ship repair, ship building, marine engineering and dry bulk shipping outfits in China and Singapore. The Company operates through three segments: Shipping; Ship repair, ship building and marine engineering activities, and all other segment. Its segments operates in two geographical areas: People’s Republic of China, which includes the operations of ship repair, and Singapore, which includes the operations of shipping, ship repair and marine related activities and rental of property. The Company’s portfolio includes deep-water oil rigs, floating production storage and offloading (FPSO) units, installation vessels, barges and platform vessels. Its yards cater to a worldwide clientele, delivering builds of varying types and sizes, including bulk carriers, oil tankers and liquefied natural gas (LNG) carriers.

Cosco Shipping Specialized Carriers has exercised its options at Dalian Cosco Shipping Heavy Industry to build four multi-purpose pulp carriers.
According to the contract, the shipowner needed to confirm the options before the date of 7 March. The nine ships will be delivered during 2019 and 2021. The price for each of the ships is RMB232.6m. Read more athttp://www.seatrade-maritime.com/news/asia/cosco-shipping-specialized-carriers-exercises-four-newbuild-options.html

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

By the way, prices are vulnerable to a correction towards 0.36.

The projected upper bound is: 0.37.

The projected lower bound is: 0.34.

The projected closing price is: 0.36.

COSCO SHIPPING closed unchanged at 0.355. Volume was 20% below average (neutral) and Bollinger Bands were 45% narrower than normal.

OpenHighLowCloseVolume
0.3550.3650.3550.3554,194,100

Technical Outlook
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages:10-period 50-period200-period
Close:0.360.350.37
Volatility:293545
Volume:5,570,4204,603,1866,234,318

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

COSCO SHIPPING is currently 4.9% below its 200-period moving average and is in an downward 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 moderate flows of volume into COSC.SI (mildly bullish). Our trend forecasting oscillators are currently bearish on COSC.SI and have had this outlook for the last 4 periods.

Momentum

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 15.3846. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 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 47.50. 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 104 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 -29. This is not a topping or bottoming area. The last signal was a sell 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 2 period(s) ago.

Candlesticks
During the past 10 bars, there have been 2 white candles and 5 black candles for a net of 3 black candles. During the past 50 bars, there have been 14 white candles and 22 black candles for a net of 8 black candles.

A gravestone doji occurred. This often signifies a top (the longer the upper shadow, the more bearish the signal).

A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).

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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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