Recommendation: Buy on Dips
Haitong Securities Co., Ltd. is a China-based company principally engaged in security businesses.
The Company operates its businesses through securities and futures broking, investment banking business, proprietary security business, direct investment business, security asset management, financing lease business and overseas business.
The Company conducts its businesses in domestic and overseas markets.
Overall, the bias in prices is: Sideways.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 8.14.
The projected lower bound is: 6.32.
The projected closing price is: 7.23.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 2 white candles and 7 black candles for a net of 5 black candles. During the past 50 bars, there have been 19 white candles and 30 black candles for a net of 11 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 34.4538. This is not an overbought or oversold reading. The last signal was a buy 1 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 48.74. 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 14 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 -63. This is not a topping or bottoming area. The last signal was a buy 1 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 10 period(s) ago.
Rex Takasugi – TD Profile
HAITONG SEC closed down -0.100 at 7.220. Volume was 45% below average (neutral) and Bollinger Bands were 36% wider than normal.
Open High Low Close Volume 7.380 7.420 7.150 7.220 17,718,018
Technical Outlook Short Term: Neutral Intermediate Term: Bearish Long Term: Bearish
Moving Averages: 10-period 50-period 200-period Close: 7.33 6.83 7.70 Volatility: 58 79 55 Volume: 34,207,192 42,121,808 23,320,134
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.
HAITONG SEC is currently 6.2% below its 200-period moving average and is in an downward 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 6837.HK at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on 6837.HK and have had this outlook for the last 2 periods.