Sapura Energy Weekly HEFFX Highlights: $.35 target

Sapura Energy Weekly HEFFX Highlights: $.35 target

Sapura Energy Berhad, formerly SapuraKencana Petroleum Berhad, is engaged in investment holding and the provision of management services to its subsidiaries. The Company’s segments include Engineering and Construction (E&C), Drilling, Energy and Corporate. Its E&C business segment is engaged in the installation of offshore platforms, marine pipelines and subsea services; engineering, procurement, construction and commissioning services, and repairs and refurbishment of industrial gas turbines, supply, installation, commissioning and maintenance of point-of sale systems for petrol stations and asset management services for offshore installations. It owns and operates tender rigs, as well as provides tender assist drilling solutions for operators. It operates in various geographical areas in the world, including Malaysia, Asia, Australia and Russia, Americas and the United Kingdom, and Africa.

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

The projected upper bound is: 0.36.

The projected lower bound is: 0.31.

The projected closing price is: 0.34.

SAPURA ENERGY closed unchanged at 0.335. Volume was 77% below average (consolidating) and Bollinger Bands were 29% narrower than normal.

OpenHighLowCloseVolume
0.3250.3350.3250.33535,504,900

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

Moving Averages:10-period50-period200-period
Close:0.330.330.38
Volatility:404478
Volume:82,813,568149,918,336120,674,160

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

SAPURA ENERGY is currently 11.5% below its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of SAEN.KL at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on SAEN.KL and have had this outlook for the last 17 periods.

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 36.3637. This is not an overbought or oversold reading. The last signal was a sell 3 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 51.42. 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 32 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 38. This is not a topping or bottoming area. 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 buy 4 period(s) ago.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 3 black candles for a net of 3 white candles. During the past 50 bars, there have been 17 white candles and 22 black candles for a net of 5 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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