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Chu Kong Petroleum and Natural Gas Steel Pipe Holdings (HKSE:01938) 9-Day RSI : 54.59 (As of May. 13, 2024)


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What is Chu Kong Petroleum and Natural Gas Steel Pipe Holdings 9-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. A shorter period RSI is more reactive to recent price changes, so it can show early signs of reversals. 9-Day RSI is sometimes used together with 14-Day RSI in a two period divergence strategy.

As of today (2024-05-13), Chu Kong Petroleum and Natural Gas Steel Pipe Holdings's 9-Day RSI is 54.59.

The industry rank for Chu Kong Petroleum and Natural Gas Steel Pipe Holdings's 9-Day RSI or its related term are showing as below:

HKSE:01938's 9-Day RSI is ranked worse than
85.45% of 660 companies
in the Steel industry
Industry Median: 49.5 vs HKSE:01938: 54.59

Competitive Comparison of Chu Kong Petroleum and Natural Gas Steel Pipe Holdings's 9-Day RSI

For the Steel subindustry, Chu Kong Petroleum and Natural Gas Steel Pipe Holdings's 9-Day RSI, along with its competitors' market caps and 9-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.


Chu Kong Petroleum and Natural Gas Steel Pipe Holdings's 9-Day RSI Distribution in the Steel Industry

For the Steel industry and Basic Materials sector, Chu Kong Petroleum and Natural Gas Steel Pipe Holdings's 9-Day RSI distribution charts can be found below:

* The bar in red indicates where Chu Kong Petroleum and Natural Gas Steel Pipe Holdings's 9-Day RSI falls into.



Chu Kong Petroleum and Natural Gas Steel Pipe Holdings  (HKSE:01938) 9-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.


Chu Kong Petroleum and Natural Gas Steel Pipe Holdings  (HKSE:01938) 9-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. A shorter period RSI is more reactive to recent price changes, so it can show early signs of reversals. 9-Day RSI is sometimes used together with 14-Day RSI in a two period divergence strategy.


Chu Kong Petroleum and Natural Gas Steel Pipe Holdings 9-Day RSI Related Terms

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Chu Kong Petroleum and Natural Gas Steel Pipe Holdings (HKSE:01938) Business Description

Traded in Other Exchanges
N/A
Address
2nd Floor, 3-5 Golden Dragon City, Yayun Avenue, Panyu District, Guangdong Province, Guangzhou, CHN, 511450
Chu Kong Petroleum and Natural Gas Steel Pipe Holdings Ltd operates in the steel pipe business. The group is involved in its key revenue-generating business which is to manufacture and sell welded steel pipes and the provision of related manufacturing services. The group's steel pipes are mainly used for energy transmission including oil and gas transmission pipelines, deep-sea pipelines, city gas networks, petrochemicals, mining, infrastructure construction, offshore engineering, steel structures, and water utilities industries. Further, it is also involved in the development of properties for sale; and property investment activities. The group has a business presence in Mainland China and other countries, of which maximum revenue is derived from Mainland China.

Chu Kong Petroleum and Natural Gas Steel Pipe Holdings (HKSE:01938) Headlines

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