Shanghai: SSE Composite Index (.SSEC) shares end higher

Shanghai: SSE Composite Index (.SSEC) shares end higher

Shanghai: SSE Composite Index (.SSEC) shares end higher

Major Chinese stock indices ended higher Tuesday, with the benchmark Shanghai Composite Index up 0.39 percent to 2,952.34 points.

The Shenzhen Component Index closed 0.48 percent higher at 9,399.1 points.

The combined turnover of stocks on the two exchanges stood at 384.24 billion yuan (about 55.8 billion U.S. dollars), expanding from 343.74 billion yuan the previous trading day.

Gainers outnumbered losers by 954 to 411 on the Shanghai bourse and 1,314 to 708 in Shenzhen.

Stocks in financial and trust industry led the gains, with shares of Anxin Trust Co., Ltd. climbing 5.87 percent to 4.87 yuan apiece.

Shares of electronics were among the biggest losers, with Moso Power Supply Technology Co., Ltd. diving 9.82 percent to 8.08 yuan.

The ChiNext Index, China’s NASDAQ-style board of growth enterprises, gained 0.87 percent to close at 1,580.13 points.

Overall, the bias in prices is: Sideways.

The projected upper bound is: 3,035.72.

The projected lower bound is: 2,872.22.

The projected closing price is: 2,953.97.


A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.

A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).

Momentum Indicators

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 87.2131. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 11 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 52.79. 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 buy 56 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 162.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 4 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 buy 2 period(s) ago.

Rex Takasugi – TD Profile

SSE COMPOSITE closed up 11.331 at 2,952.338. Volume was 40% below average (neutral) and Bollinger Bands were 49% narrower than normal.

Open     High      Low     Close     Volume___
Technical Outlook 
Short Term: Overbought
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 2,924.25 2,928.82 2,818.36
Volatility: 13 18 27
Volume: 14,755,573,760 18,696,159,232 22,686,072,832

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.


SSE COMPOSITE is currently 4.8% above its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of .SSEC at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .SSEC and have had this outlook for the last 10 periods.

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