Chinese stocks had some rebound on Monday, amidst their prolonged slump this year.
The benchmark Shanghai Composite index surged more than 4% - its sharpest one-day climb since since March 2016. That catapulted the index towards 7% gain over the past two days of trading. It seems the latest efforts by Chinese authorities/officials to infuse confidence about the nation’s markets and economy might have started to have some impact on investor sentiment. On Friday, China’s central bank chief Yi Gang indicated that the recent stock market rout didn't reflect macroeconomic conditions, while adding that the Chinese economy is "moving forward". He said that the government would take more measures to boost economic growth. Also President Xi Jinping on Saturday claimed to be ready to extend "unwavering" support for China's private sector amidst concerns about the economy’s decelerating growth rates in recent times.
CHIQ moved above its 50-day moving average on April 22, 2024 date and that indicates a change from a downward trend to an upward trend. In of 32 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on April 23, 2024. You may want to consider a long position or call options on CHIQ as a result. In of 81 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 CHIQ just turned positive on April 24, 2024. Looking at past instances where CHIQ's MACD turned positive, the stock continued to rise in of 47 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 CHIQ advanced for three days, in of 306 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 Stochastic Oscillator entered the overbought zone. Expect a price pull-back in the foreseeable future.
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 .
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Category PacificAsiaexJapanStk