Jiutian Chemical HEFFX Highlights

Jiutian Chemical HEFFX Highlights

Jiutian Chemical Group Limited is an investment holding company. The Company is engaged in the manufacture and production of dimethylformamide (DMF) and methylamine. It is involved in the processing and sale of consumable carbon dioxide and oxygen. It operates through two business divisions: DMF division, which is engaged in producing DMF as its main product and methylamine as its secondary product, and Gas division, which is engaged in producing consumable carbon dioxide and oxygen. Its facilities have a total annual manufacturing capacity of over 150,000 tons of DMF and methylamine. It has a storage and distribution facility in Changzhou City, which handles approximately 40,000 tons of DMF annually. Its subsidiaries include Changzhou Jiutian Xiean Chemical Co., Ltd., which sells methylamine, polyurethane and downstream products, and Henan Herunsheng Isotope Technology Co., Ltd., which develops isotope technology, and manufactures and trades Oxygen 18 and deuterium depleted water.

Overall, the bias in prices is: Downwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the downside.

By the way, prices are vulnerable to a correction towards 0.02.

The projected upper bound is: 0.02.

The projected lower bound is: 0.01.

The projected closing price is: 0.01.

JIUTIAN CHEMICAL closed down -0.002 at 0.013. Volume was 121% above average (neutral) and Bollinger Bands were 62% wider than normal.

OpenHighLowCloseVolume
0.0140.0140.0130.01312,636,000

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

Moving Averages:10-period50-period200-period
Close:0.020.020.02
Volatility:1039491
Volume:3,734,9414,933,6228,338,750

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

JIUTIAN CHEMICAL gapped down today (bearish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
JIUTIAN CHEMICAL is currently 45.4% below its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect very strong flows of volume out of JUTN.SI (bearish). Our trend forecasting oscillators are currently bearish on JUTN.SI and have had this outlook for the last 11 periods. Our momentum oscillator is currently indicating that JUTN.SI is currently in an oversold condition.

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 0.0000. 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 20.43. This is where it usually bottoms. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 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 -166.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 8 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 19 period(s) ago.

Candlesticks

A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 1 white candles and 3 black candles for a net of 2 black candles. During the past 50 bars, there have been 5 white candles and 19 black candles for a net of 14 black candles.

A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow). This usually implies a continuation of a bearish trend.

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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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