MTR Corporation Limited (HKG:0066) Technician Dies On Duty

MTR Corporation Limited (HKG:0066) Technician Dies On Duty

MTR Corporation Limited (HKG:0066) Technician Dies On Duty

  • Thousands stranded in Hong Kong MTR railway service disruption
  • Rush-hour service affected for hours after overhead cable snaps and knocks out power on key commuter line
  • An MTR technician died in the early hours of Tuesday in an accident while carrying out maintenance work.
  • The 59-year-old man was found lying on the tracks at around 2am near the Tai Wai Depot. He was pronounced dead at the scene. He was suspected to have been hit by a maintenance train, local media cited police as saying.

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

The projected upper bound is: 46.29.

The projected lower bound is: 42.90.

The projected closing price is: 44.59.

MTR CORPORATION closed up 1.350 at 44.500. Volume was 178% above average (trending) and Bollinger Bands were 91% wider than normal.

Open         High          Low          Close          Volume
43.150      44.800      43.150      44.500      11,970,129

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages: 10-period        50-period      200-period
Close:                      44.78                42.80             40.00
Volatility:               45                      24                   20
Volume:                  11,595,679      5,293,233      4,051,343

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
MTR CORPORATION is currently 11.2% above 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 volume flowing into and out of 0066.HK at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on 0066.HK and have had this outlook for the last 0 periods.

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 34.0136. This is not an overbought or oversold reading. The last signal was a buy 0 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 54.44. 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 6 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 -46. This is not a topping or bottoming area. The last signal was a buy 0 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 4 period(s) ago.

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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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