China’s manufacturing activity expanded in December, as indicated by the nation’s official Purchasing Managers’ Index (PMI) whose reading came in slightly higher than expected.
China PMI for December was 50.2. Any reading above 50 suggests an expansion in activity. Economists polled by Reuters expected the official December manufacturing PMI to come in at 50.1.
Production accelerated and demand increased in December, according to the National Bureau of Statistics.
December was the second straight month of expansion for the index.
On December 13, the U.S. and China announced that they had reached a phase one trade deal, that includes (among several aspects) holding off and reduction of some U.S.tariffs, increased purchases by China of U.S. agricultural goods, and policies related to intellectual property and technology.
FXI saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on March 19, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 53 instances where the indicator turned negative. In of the 53 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .
The Momentum Indicator moved below the 0 level on March 25, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on FXI as a result. In of 98 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where FXI declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.
The 10-day moving average for FXI crossed bullishly above the 50-day moving average on February 22, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 18 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where FXI advanced for three days, in of 266 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 181 cases where FXI Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Category PacificAsiaexJapanStk