Sun Hung Kai & Co. Limited (HKG:0086) Trading Outlook
Sun Hung Kai & Co (0086) announced today profit for the six months ended June 30, 2016 will drop significantly compared with income for the corresponding period of 2015.
Profit for the period from continuing operations has decreased by 50 percent as a result mainly of net mark-to-market losses from financial investments in the principal investments segment and the continuing difficult operating environment for the consumer finance business in China, the company announced.
SUN HUNG KAI CO closed unchanged at 4.710. Volume was 75% below average (consolidating) and Bollinger Bands were 8% narrower than normal.
Open High Low Close Volume___
4.680 4.720 4.680 4.710 217,389
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 4.62 4.58 4.78
Volatility: 14 20 27
Volume: 472,786 659,550 967,479
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.
SUN HUNG KAI CO is currently 1.5% below its 200-period moving average and is in an upward 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 0086.HK at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on 0086.HK and have had this outlook for the last 4 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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 82.3529. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 4 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 62.75. 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 118 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 136.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 3 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 14 period(s) ago.