Honghua Group (HKSE:00196) 14-Day RSI : 50.48 (As of May. 29, 2024)

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What is Honghua Group 14-Day RSI?

The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. The RSI is most typically used on a 14-day period, measured on a scale from 0 to 100. Traditionally, an asset is considered overbought or overvalued when the RSI is above 70 and oversold or undervalued when it is below 30.

As of today (2024-05-29), Honghua Group's 14-Day RSI is 50.48.

The industry rank for Honghua Group's 14-Day RSI or its related term are showing as below:

HKSE:00196's 14-Day RSI is ranked worse than
59.25% of 1124 companies
in the Oil & Gas industry
Industry Median: 49.46 vs HKSE:00196: 50.48

Competitive Comparison of Honghua Group's 14-Day RSI

For the Oil & Gas Equipment & Services subindustry, Honghua Group's 14-Day RSI, along with its competitors' market caps and 14-Day RSI data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Honghua Group's 14-Day RSI Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Honghua Group's 14-Day RSI distribution charts can be found below:

* The bar in red indicates where Honghua Group's 14-Day RSI falls into.

Honghua Group (HKSE:00196) 14-Day RSI Calculation

The formula for calculating RSI is:

RSI

100

–

[ 100

( 1 + Average Gain

Average Loss )]

* Note that the formula uses a positive value for the average loss.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Honghua Group (HKSE:00196) 14-Day RSI Explanation

The Relative Strength Index (RSI), developed by J. Welles Wilder in his book “New Concepts in Technical Trading Systems.”, is a momentum oscillator that measures the speed and change of price movements. The RSI is most typically used on a 14-day period, measured on a scale from 0 to 100.

Traditionally, an asset is considered overbought or overvalued when the RSI is above 70 and oversold or undervalued when it is below 30. A RSI surpasses the 30 level indicates a bullish sign, when it slides below 70 level, it’s a bearish sign. This level can be adjusted depending on the security’s pattern and the market’s underlying trend. In an uptrend or bullish market, the RSI might range within a higher interval, investors could set the support level higher. If a downtrend or bearish market occurs, investors may need to lower the resistance level.

RSI can also be used in trading techniques to indicate the trading signal, such as Divergences and Swing Rejections.

Honghua Group 14-Day RSI Related Terms

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Honghua Group (HKSE:00196) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Honghua Group Ltd (HKSE:00196) » Definitions » 14-Day RSI

Comparable Companies

Traded in Other Exchanges

4HB:Germany

Address

99 East Road, Information Park, Jinniu District, Sichuan, Chengdu, CHN, 610036

Website

http://www.hh-gltd.com

Honghua Group Ltd is engaged in manufacturing drilling rigs, oil and gas exploitation equipment, providing drilling services and fracturing. It manufactures conventional land drilling rigs, digital drilling rigs, accessories for drilling rigs, as well as the parts and components for the drilling rigs or the maintenance of the drilling rigs in operation. Its segments include Land drilling rigs; Parts and components and others; Drilling engineering services; and Fracturing. It derives a majority of revenue from Parts and components and others segment. Geographically it operates in the PRC, Americas, Middle East, Europe and Central Asia, South Asia and South East, and Africa, of which prime revenue is derived from the PRC.

Executives

Tricor Equity Trustee Limited	2301 Trustee
Dongfang Electric Corporation	2201 Interest of corporation controlled by you
Dongfang Electric International Investment Co., Limited	2101 Beneficial owner
China Chengtong Holdings Group Limited	2201 Interest of corporation controlled by you
China Chengtong Hong Kong Company Limited	2201 Interest of corporation controlled by you
Ke Hua Ji Shu You Xian Gong Si	2101 Beneficial owner
Zhong Guo Hang Tian Ke Gong Ji Tuan You Xian Gong Si	2201 Interest of corporation controlled by you
Shen Zhen Hang Tian Gong Ye Ji Shu Yan Jiu Yuan You Xian Gong Si	2201 Interest of corporation controlled by you
Wealth Afflux Limited	2201 Interest of corporation controlled by you
Yi Langlin	2202 Interest of your spouse
Zhang Mi	2307 Founder of a discretionary trust who can infl
Equity Trustee Limited	2201 Interest of corporation controlled by you
Ally Giant Limited	2101 Beneficial owner

Honghua Group (HKSE:00196) Headlines

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