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.
The 10-day moving average for FXI crossed bearishly below the 50-day moving average on May 19, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 18 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
The Stochastic Oscillator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
FXI moved below its 50-day moving average on May 17, 2023 date and that indicates a change from an upward trend to a downward trend.
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 Aroon Indicator for FXI entered a downward trend on May 04, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Momentum Indicator moved above the 0 level on June 07, 2023. You may want to consider a long position or call options on FXI as a result. In of 91 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for FXI just turned positive on June 06, 2023. Looking at past instances where FXI's MACD turned positive, the stock continued to rise in of 51 cases 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 272 cases, the price rose further within the following month. The odds of a continued upward trend are .
FXI may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
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|Noble Absolute Return ETF|
|FlexShares Glbl Quality Real Estate ETF|
|SPDR® S&P Capital Markets ETF|
|ETRACS 2x Lgd IFED Iv with the Fd TR ETN|
|NUVEEN S&P BUY-WRITE Income FUND|
A.I.dvisor indicates that over the last year, FXI has been closely correlated with MCHI. These tickers have moved in lockstep 99% of the time. This A.I.-generated data suggests there is a high statistical probability that if FXI jumps, then MCHI could also see price increases.
|MCHI - FXI|
|GXC - FXI|
|CXSE - FXI|
|KWEB - FXI|
|CHIQ - FXI|