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published in Blogs
Dec 31, 2019

China PMI signals expansion in December manufacturing

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.

Related Ticker: FXI

FXI sees its 50-day moving average cross bullishly above its 200-day moving average

The 50-day moving average for FXI moved above the 200-day moving average on May 14, 2024. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 6 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.

FXI moved above its 50-day moving average on June 17, 2024 date and that indicates a change from a downward trend to an upward trend.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where FXI advanced for three days, in of 269 cases, the price rose further within the following month. The odds of a continued upward trend are .

Bearish Trend Analysis

The 10-day RSI Indicator for FXI moved out of overbought territory on May 21, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 27 similar instances where the indicator moved out of overbought territory. In of the 27 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Momentum Indicator moved below the 0 level on May 24, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on FXI as a result. In of 99 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for FXI turned negative on May 23, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 56 similar instances when the indicator turned negative. In of the 56 cases the stock turned lower in the days that followed. This puts the odds of success at .

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 June 17, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Fundamental Analysis (Ratings)

Fear & Greed

Industry description

The investment seeks to track the investment results of the FTSE China 50 Index composed of large-capitalization Chinese equities that trade on the Hong Kong Stock Exchange. The fund generally will invest at least 80% of its assets in the component securities of its underlying index and in investments that have economic characteristics that are substantially identical to the component securities of its underlying index. The index designed to measure the performance of the largest companies in the Chinese equity market that trade on the Stock Exchange of Hong Kong and are available to international investors. The fund is non-diversified.
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