PETROCHINA(00857) 格隆汇· Ge Long Hui·2025-05-30 09:34Core Viewpoint - China National Petroleum Corporation (CNPC) shows a strong technical outlook with upward momentum, closing at HKD 6.59 on May 28, 2025, reflecting a 0.92% increase and surpassing key moving averages [1][3]. Technical Analysis - The stock has broken through the first resistance level of HKD 6.68 and is poised to challenge the next resistance at HKD 6.99, with first and second support levels at HKD 6.34 and HKD 6.07 respectively [3]. - The stock is above major support zones, indicating strong market support, with a 5-day volatility of 4.1%, suggesting manageable fluctuations [3]. - The RSI index is at 71, indicating overbought conditions, but no clear signs of weakening are present, suggesting a strong stock trend [3]. - Other indicators like the Williams and Stochastic indicators are also in overbought territory without reversal signals, confirming ongoing market momentum [3]. - The CCI and ADX indicators show robust performance, further validating the current trend [3]. - Overall technical indicators suggest a "strong buy" signal with a total strength of 17, indicating a very strong technical buying zone [3]. Trading Volume and Market Sentiment - The trading volume recorded was HKD 1.273 billion, reflecting active market participation and supporting the price uptrend [5]. - Momentum oscillators and rate of change indicators provide neutral to slightly bullish signals, indicating no signs of capital withdrawal [5]. - Psychological indicators and bull-bear power indicators maintain a positive outlook, boosting investor confidence [5]. Derivative Products - Various call and put options are available for CNPC, including UBS call options with a leverage of 12.7 times and a strike price of HKD 7.51, suitable for investors seeking high returns at lower costs [5]. - Guotai Junan call options offer a leverage of 13.1 times, balancing leverage and implied volatility for more conservative investors [5]. - UBS and Citigroup bear options have a redemption price of HKD 7.5, with actual leverage of 4.6 times and 4.9 times respectively, appealing to investors looking to short CNPC [5]. Short to Medium-Term Outlook - CNPC is expected to have further upward potential in the short to medium term, supported by resistance level breakthroughs and positive technical signals [7]. - Investors are advised to monitor short-term adjustment risks due to the overbought status of RSI and Williams indicators, as well as changes in trading volume for further reference [7].