601398:SSEIndustrial and Commercial Bank of China Limited Class A Analysis

The moving-average structure behind Industrial and Commercial Bank of China Limited is bullish at ¥8.08, with short-term averages leading the long-term ones. It has gained 7.4% over the past 30 days. RSI sits at 56.5, which reads as neutral, and MACD momentum is bearish. Watch ¥7.66 as support and ¥8.29 as the nearer resistance level.
The shares look undervalued, trading on 8.0 times earnings below a sector average of 16.1. The average analyst target implies 7.3% above today's level. Revenue is growing at 5.8% on a 54.8% profit margin. The 3.82% dividend yield looks covered by current payout levels.
The composite risk read is 3/10, putting it in low territory. With 30-day volatility of 16.7%, a beta of -0.03 and a maximum drawdown of 16.7%, the drawdown profile is forgiving relative to most of the market. The wider market backdrop reads extreme greed at 91 on the fear-greed composite.
Short, medium and long-term reads agree on buy, with conviction of 7/10.