Shanghai stock alert

CHINA

CLOSING UPDATE: Inner Mongolia BaoTou Steel Union lifted 2.0% on high volume 26 July 2017 15:54 CST

NEWS BITES - BRIC

This is an end of day Alert, produced after today's Shanghai market close. It concludes the BSS News Bites intra-day Alert series (summaries below).

Inner Mongolia BaoTou Steel Union, Shanghai's 2nd largest iron/steel/ferroalloys company by market capitalisation, traded on heavy volume of 2.3 times average today while the price lifted 5.0 fen (or 2.0%) to trade at CNY2.52. Compared with the SSE 180 Index which fell 55.7 points (or 0.7%) in the day, this represented a relative price increase of 2.7%.

Technical indicators complementing today's significant uptrend:

+ The positive 0.08 MACD (Moving Average Convergence Divergence) indicator suggests a bullish signal.

+ The stock has outperformed 90% of the Shanghai market over the past 6 months.

+ In the last three months the stock has hit a new 52-week high five times, pointing to an uptrend.

Note

Bearish Signals:

The price decreased 0.4% in the last week.

Overbought/Bearish:

The 1.9% discount to 12-month high of CNY2.57 against the 28.8% premium to 12-month low of CNY1.96 suggests the climb might be peaking.

Fundamental measures by comparison with the sector average [in brackets] indicate:

Overvaluation:

Price/Sales of 3.2 [1.8]

TODAY'S ALERTS

Afternoon Alert: Inner Mongolia BaoTou Steel Union increases 1.6%, leads Iron/Steel/Ferroalloys sector higher

26 July 2017 13:02 CST

Inner Mongolia BaoTou Steel Union Co., - A Share (SS:600010) has increased 1.6% to trade at CNY2.51 vs. the Iron/Steel/Ferroalloys sector which strengthened 16.2 points (or 0.3%) to 5,498.6. Representing a weighting of about 27.3% of the sector, the stock accounted for the gain. The shares have outperformed 91% of the market in the past month.

Morning Alert: Inner Mongolia BaoTou Steel Union increases 1.6%, leads Iron/Steel/Ferroalloys sector higher

26 July 2017 10:42 CST

Inner Mongolia BaoTou Steel Union Co., - A Share (SS:600010) has increased 1.6% to trade at CNY2.51 vs. the Iron/Steel/Ferroalloys sector which strengthened 26.4 points (or 0.5%) to 5,508.8. Representing a weighting of about 27.3% of the sector, the stock accounted for 92.1% of today's gain. The shares have outperformed 92% of the market in the past month. Trading volume was 81% of average so far today.

Inner Mongolia BaoTou Steel Union Co., - A Share (SS:600010; SHA:600010; CH:600010)

ISIN: CNE0000017H1

PermID: 4295863939

Source: www.BuySellSignals.com