China's beaten down stock market could be headed for a rebound.
The benchmark Shanghai Composite was the world's worst performing major stock market last year, tumbling more than 25%. It was weighed down by fears about China's slowing economy and the trade war with the United States. READ MORE...
CHIQ saw its Momentum Indicator move below the 0 level on May 18, 2023. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 71 similar instances where the indicator turned negative. In of the 71 cases, the stock moved further down in the following days. The odds of a decline are at .
The Moving Average Convergence Divergence Histogram (MACD) for CHIQ turned negative on May 24, 2023. 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 44 similar instances when the indicator turned negative. In of the 44 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 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 Aroon Indicator for CHIQ entered a downward trend on May 26, 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 Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 8 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.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where CHIQ advanced for three days, in of 307 cases, the price rose further within the following month. The odds of a continued upward trend are .
CHIQ may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Category PacificAsiaexJapanStk
A.I.dvisor indicates that over the last year, CHIQ has been closely correlated with KWEB. These tickers have moved in lockstep 96% of the time. This A.I.-generated data suggests there is a high statistical probability that if CHIQ jumps, then KWEB could also see price increases.
Ticker / NAME | Correlation To CHIQ | 1D Price Change % | ||
---|---|---|---|---|
CHIQ | 100% | +3.12% | ||
KWEB - CHIQ | 96% Closely correlated | +4.97% | ||
MCHI - CHIQ | 96% Closely correlated | +2.54% | ||
FXI - CHIQ | 95% Closely correlated | +2.54% | ||
ASHR - CHIQ | 78% Closely correlated | +0.79% | ||
EWT - CHIQ | 49% Loosely correlated | +0.93% |