Technical Analysis: Bullish Momentum Prevails Across Expressway Stocks

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Anhui Expressway


Anhui Expressway Co Ltd last traded at an average intraday price of 5.91 CNY, with the last closing price at 5.93 CNY. Based on the stock's average daily change (ADC), the current price momentum is bullish, with a net change of 0.53 CNY for the day. The current momentum compares to the bullish momentum seen in the prior day and the bullish momentum seen over the prior week.



The price currently trades above its 30-day moving average, and has continually traded above its trailing 30-day MA over the last week. This serves as a bullish sign for the short-term price outlook.



Meanwhile, the volume rate of change (VROC) indicator stands at 199.9, in line with the current bullish price trend. Notably, the VROC indicator has been bullish over the prior week, while over the last month, the indicator has screened as bullish.



Based on the current price action, trader sentiment screens as bullish, as the stock has experienced 7 up days over the last week, with a further 14 bullish days over the last month and 101 up days over the last year.



Finally, the stock's relative strength indicator (RSI) reached 89.6 as of the most recent close, with a trailing 3-day RSI of 40.0, a trailing 9-day RSI of 83.7, and a trailing 30-day RSI of 75. Thus, the latest RSI, which screens as bullish, compares to the month-long bullish trend.



Jiangsu Expressway


Jiangsu Expressway Co Ltd last traded at an average intraday price of 9.65 CNY, with the last closing price at 9.67 CNY. Based on the stock's average daily change (ADC), the current price momentum is bullish, with a net change of 0.52 CNY for the day. The current momentum compares to the bullish momentum seen in the prior day and the bullish momentum seen over the prior week.



The price currently trades above its 30-day moving average, and has continually traded above its trailing 30-day MA over the last week. This serves as a bullish sign for the short-term price outlook.



Meanwhile, the volume rate of change (VROC) indicator stands at 67.6, in line with the current bullish price trend. Notably, the VROC indicator has been bullish over the prior week, while over the last month, the indicator has screened as bullish.



Based on the current price action, trader sentiment screens as bullish, as the stock has experienced 7 up days over the last week, with a further 12 bullish days over the last month and 108 up days over the last year.



Finally, the stock's relative strength indicator (RSI) reached 90.6 as of the most recent close, with a trailing 3-day RSI of 100, a trailing 9-day RSI of 85.7, and a trailing 30-day RSI of 57.9. Thus, the latest RSI, which screens as bullish, compares to the month-long bullish trend.



Shenzhen Expressway


Shenzhen Expressway Co Ltd last traded at an average intraday price of 9.09 CNY, with the last closing price at 9.12 CNY. Based on the stock's average daily change (ADC), the current price momentum is bullish, with a net change of 0.40 CNY for the day. The current momentum compares to the bullish momentum seen in the prior day and the bullish momentum seen over the prior week.



The price currently trades above its 30-day moving average, and has continually traded above its trailing 30-day MA over the last week. This serves as a bullish sign for the short-term price outlook.



Meanwhile, the volume rate of change (VROC) indicator stands at 47.6, in line with the current bullish price trend. Notably, the VROC indicator has been bullish over the prior week, while over the last month, the indicator has screened as bearish.



Based on the current price action, trader sentiment screens as bullish, as the stock has experienced 7 up days over the last week, with a further 8 bullish days over the last month and 96 up days over the last year. On balance, the psychological trend has been bearish.



Finally, the stock's relative strength indicator (RSI) reached 77.0 as of the most recent close, with a trailing 3-day RSI of 72.7, a trailing 9-day RSI of 75.5, and a trailing 30-day RSI of 60.7. Thus, the latest RSI, which screens as bullish, compares to the month-long bullish trend.



Sources:


https://uk.tradingview.com/symbols/SSE-600012/


https://uk.tradingview.com/symbols/SSE-600377/


https://uk.tradingview.com/symbols/SSE-600548/

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