Huaneng Power International Jumped on Better than expected Result
Huaneng Power International (902), an energy group, posted 1H net income jumped 58.1% on year to 5.44 billion yuan on revenue of 79.13 billion yuan, down 5.4%. The stock prices jumped 10% after the earning announcement yesterday.
Share this:
Huaneng Power International (902), an energy group, posted 1H net income jumped 58.1% on year to 5.44 billion yuan on revenue of 79.13 billion yuan, down 5.4%. The stock prices jumped 10% after the earning announcement yesterday.
Today, the stock prices hold the gain, even the Hang Seng Index slumps 2%. It would suggest that the buying interest of investors remains.
From a technical point of view, the stock accelerated to the upside and broke above the upper boundary of the bullish channel, suggesting a further upside acceleration signal.
The relative strength index is above its overbought level at 70, but has not displayed any reversal signal.
Bullish readers could set the support level at HK$3.41 (38.2% retracement level), while resistance levels would be located at HK$4.12(previous high) and HK$4.64 (127.2% expansion).
Source: GAIN Capital, TradingView
Citibank said the increase of net income thanks to lower on-grid tariff in China and unit fuel costs, more than offsetting lower power plant utilization.
Today, the stock prices hold the gain, even the Hang Seng Index slumps 2%. It would suggest that the buying interest of investors remains.
From a technical point of view, the stock accelerated to the upside and broke above the upper boundary of the bullish channel, suggesting a further upside acceleration signal.
The relative strength index is above its overbought level at 70, but has not displayed any reversal signal.
Bullish readers could set the support level at HK$3.41 (38.2% retracement level), while resistance levels would be located at HK$4.12(previous high) and HK$4.64 (127.2% expansion).
Source: GAIN Capital, TradingView
Huaneng Power International (902), an energy group, posted 1H net income jumped 58.1% on year to 5.44 billion yuan on revenue of 79.13 billion yuan, down 5.4%. The stock prices jumped 10% after the earning announcement yesterday.
Today, the stock prices hold the gain, even the Hang Seng Index slumps 2%. It would suggest that the buying interest of investors remains.
From a technical point of view, the stock accelerated to the upside and broke above the upper boundary of the bullish channel, suggesting a further upside acceleration signal.
The relative strength index is above its overbought level at 70, but has not displayed any reversal signal.
Bullish readers could set the support level at HK$3.41 (38.2% retracement level), while resistance levels would be located at HK$4.12(previous high) and HK$4.64 (127.2% expansion).
Source: GAIN Capital, TradingView
Citibank said the increase of net income thanks to lower on-grid tariff in China and unit fuel costs, more than offsetting lower power plant utilization.
Today, the stock prices hold the gain, even the Hang Seng Index slumps 2%. It would suggest that the buying interest of investors remains.
From a technical point of view, the stock accelerated to the upside and broke above the upper boundary of the bullish channel, suggesting a further upside acceleration signal.
The relative strength index is above its overbought level at 70, but has not displayed any reversal signal.
Bullish readers could set the support level at HK$3.41 (38.2% retracement level), while resistance levels would be located at HK$4.12(previous high) and HK$4.64 (127.2% expansion).
Source: GAIN Capital, TradingView
Latest market news
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
S&P 500, Nasdaq, Dow Forecast: Rising Yields Test Rally Ahead of Nvidia, Fed 8 22 2026
S&P 500, Nasdaq and Dow test key technical levels as momentum fades, raising the risk of a deeper correction heading into a pivotal week.
GBP/USD, Dow Jones Forecast: Key Technical Scenarios to Watch
GBP/USD and the Dow Jones are approaching critical technical levels amid earning optimism, Fed rate hike expectations, US-Iran developments, and persistent geopolitical risks.
The U.S. Dollar Is Rising Again and Nasdaq Is Feeling It
Nasdaq, the U.S. Dollar Index and Federal Reserve expectations are driving market sentiment ahead of a pivotal FOMC meeting. Razan Hilal, StoneX Market Analyst, explains how rising expectations for a hawkish Federal Reserve, persistent U.S.-Iran tensions and key technical levels on the U.S. Dollar Index could influence currencies, equities and precious metals in the weeks ahead.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.