SSE Composite Index(SHA:000001) Shanghai HEFFX Outlook 09/03/17

SSE Composite Index(SHA:000001) Shanghai HEFFX Outlook 09/03/17

SSE Composite Index(SHA:000001) Shanghai HEFFX Outlook 09/03/17

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

By the way, prices are vulnerable to a correction towards 3,182.69.

The projected upper bound is: 3,264.93.

The projected lower bound is: 3,171.74.

The projected closing price is: 3,218.33.

SSE COMPOSITE closed down -23.919 at 3,216.746. Volume was 11% below average (neutral) and Bollinger Bands were 52% narrower than normal.

Open             High               Low                 Close              Volume
3,233.701     3,233.875     3,205.279     3,216.746      167,371

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

Moving Averages: 10-period      |50-period      |200-period
Close:                       3,235.28       |3,173.56         |3,075.19
Volatility:                8                     |9                      |14
Volume:                   169,746        |167,289          |174,095

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 Shanghai
SSE COMPOSITE is currently 4.6% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into .SSEC (mildly bullish). Our trend forecasting oscillators are currently bullish on .SSEC and have had this outlook for the last 27 periods.

 Shanghai, China, Asia, Outlook, SSEC, Composite, Index, Shayne Heffernan

HEFFX Momentum Shanghai
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 56.6297. This is not an overbought or oversold reading. The last signal was a sell 8 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 50.95. 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 65 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 -135.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 9 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 5 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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