Volvo Cars said it expects its business to recover in the second half of the year after reporting on Tuesday an operating loss for the first six months as coronavirus lockdowns strained supply chains and forced plant closures.
The Swedish-based carmaker also said that its planned merger with sister company Geely Automobile Holdings Ltd (0175.HK) had been temporarily put on hold due to Geely Auto’s plans to list in China. The companies will resume talks in the autumn.
Volvo saw a return to solid growth in China during the second quarter, it said, and expected a similar upturn in the United States and Europe.
Geely Automobile Holdings Limited is an investment holding company principally engaged in automobiles.
The major products include Emgrand electric vehicles (EVs), Emgrand grand luxury (GL), Geely GC9, Vision sports utility vehicles (SUVs), Emgrand grand super (GS), Geely Kingkong Series, Geely Boyue, Geely Panda, Free Cruiser, New Emgrand, Vision Series, among others.
In addition, the Company is also engaged in the production and sale of automobile components.
The Company operates its business mainly in China, Europe, Middle East, Africa, Center and South America. Its subsidiaries include Centurion Industries Limited, Value Century Group Limited, Geely International Limited, Zhejiang Fulin Guorun Automobile Parts & Components Co., Ltd. and Linkstate Overseas Limited, among others.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 18.02.
The projected lower bound is: 14.11.
The projected closing price is: 16.07.
During the past 10 bars, there have been 4 white candles and 5 black candles for a net of 1 black candles. During the past 50 bars, there have been 20 white candles and 29 black candles for a net of 9 black candles.
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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 33.3334. This is not an overbought or oversold reading. The last signal was a buy 6 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 55.35. 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 9 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 -51. This is not a topping or bottoming area. The last signal was a sell 11 period(s) ago.
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.
Rex Takasugi – TD Profile
GEELY AUTO closed unchanged at 16.000. Volume was 74% below average (consolidating) and Bollinger Bands were 43% wider than normal.
Open High Low Close Volume 16.000 16.180 15.760 16.000 21,448,928
Technical Outlook Short Term: Neutral Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 15.94 13.73 13.77 Volatility: 87 84 63 Volume: 99,738,536 110,237,464 63,313,528
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.
GEELY AUTO is currently 16.2% 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 0175.HK at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on 0175.HK and have had this outlook for the last 22 periods.