COSCO Shipping International HEFFX Highlights

COSCO Shipping International HEFFX Highlights

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.

Overall, the bias in prices is: Downwards.

Short term: Prices are moving.

Intermediate term: Prices are ranging.

By the way, prices are vulnerable to a correction towards 0.35.

The projected upper bound is: 0.35.

The projected lower bound is: 0.32.

The projected closing price is: 0.33.

COSCO SHIPPING closed down -0.005 at 0.335. Volume was 55% below average (consolidating) and Bollinger Bands were 33% narrower than normal.

OpenHighLowCloseVolume
0.340.3450.3350.3352,039,300

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

Moving Averages:10-period50-period200-period
Close:0.340.350.37
Volatility:303244
Volume:3,051,5004,091,1385,814,252

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 8.4% below its 200-period moving average and is in an downward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of COSC.SI (mildly bearish). Our trend forecasting oscillators are currently bearish on COSC.SI and have had this outlook for the last 20 periods. The security price has set a new 14-period low while our momentum oscillator has not. This is a bullish divergence.

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 16.6667. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a buy 15 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 36.91. 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 120 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 -134.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 7 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 3 period(s) ago.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 1 white candles and 5 black candles for a net of 4 black candles. During the past 50 bars, there have been 9 white candles and 26 black candles for a net of 17 black candles.

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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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