China will not devalue its currency to boost it export demand, according to Chinese Premier Li Keqiang.
"Persistent depreciation of the renminbi will only do more harm than good to our country," Li said said on Wednesday during a speech at a World Economic Forum event in the northern Chinese city of Tianjin. His comments follow a day after the U.S. and China laid out plans to hit each other with a fresh round of tariffs. Since China imports much less from the U.S. compared to the other way round, speculations are rife as to whether or not China will manage to have enough measures to 'fight' back at U.S. tariffs.
Since April, the yuan (or renminbi) has declined by around -9% against the U.S dollar, amidst U.S.-China trade wars. In July, U.S. President Donald Trump suggested that China was “manipulating” its currency yuan lower to gain advantage in international trade. Li, however, said Wednesday "The recent fluctuations in the renminbi exchange rate have been seen by some as an intentional measure on the part of China," he said. "This is simply not true."
CHIQ saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on April 12, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 47 instances where the indicator turned negative. In of the 47 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 April 15, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on CHIQ as a result. In of 81 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
CHIQ moved below its 50-day moving average on April 16, 2024 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 CHIQ declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
CHIQ broke above its upper Bollinger Band on March 12, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Stochastic Oscillator is in the oversold zone. Keep an eye out for a move up in the foreseeable future.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where CHIQ advanced for three days, in of 308 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 249 cases where CHIQ Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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