Market Volatility as Coronavirus Spreads
For weeks, the equity markets seemed to shrug-off the possibility of negative impact from a spreading coronavirus. But the tone changed this week, as the S&P 500 posted sharp declines early in the week as confirmed cases grew sharply across the world – particularly in developed economies like South Korea, Japan, Italy, and even here in the US.
While equities sold off sharply, the yield on the 10-year US Treasury fell to a record low and oil prices dropped below $50 a barrel – all signs of growing investor concern over demand and economic growth in the coming months and quarters.
In my view, volatility is likely to persist as investor attention is decisively shifted away from fundamentals (revenues and earnings) and towards the unknown (headlines). In short, however, I also think the fear of the coronavirus as a global pandemic is arguably greater, for now, than the actual economic impact it is likely to have. While I don't mean to downplay the seriousness of the outbreak, history suggests that the impact to growth and market performance – and the grip that the outbreak holds on global psychology and confidence – will be temporary. I'll be buying the dips when I can.
URTH sees its Stochastic Oscillator recovers from oversold territory
On May 26, 2023, the Stochastic Oscillator for URTH moved out of oversold territory and this could be a bullish sign for the stock. Traders may want to buy the stock or buy call options. Tickeron's A.I.dvisor looked at 50 instances where the indicator left the oversold zone. In of the 50 cases the stock moved higher in the following days. This puts the odds of a move higher at over .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on May 26, 2023. You may want to consider a long position or call options on URTH as a result. In of 73 past instances where the momentum indicator moved above 0, the stock continued to climb. 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 URTH advanced for three days, in of 367 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 373 cases where URTH Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The Moving Average Convergence Divergence Histogram (MACD) for URTH turned negative on May 23, 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 46 similar instances when the indicator turned negative. In of the 46 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 URTH declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Fundamental Analysis (Ratings)
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
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URTH and
Correlation & Price change
A.I.dvisor indicates that over the last year, URTH has been closely correlated with KOKU. These tickers have moved in lockstep 100% of the time. This A.I.-generated data suggests there is a high statistical probability that if URTH jumps, then KOKU could also see price increases.
| Ticker / NAME | Correlation To URTH | 1D Price Change % | ||
|---|---|---|---|---|
| URTH | 100% | -0.33% | ||
| KOKU - URTH | 100% Closely correlated | -0.33% | ||
| ACWI - URTH | 100% Closely correlated | -0.41% | ||
| VT - URTH | 99% Closely correlated | -0.35% | ||
| KOCG - URTH | 97% Closely correlated | -0.50% | ||
| IOO - URTH | 97% Closely correlated | -0.41% | ||
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