NY Fed sees costs doubling from 2018 to 2019 due to Chinese tariffs
President Donald Trump’s tariffs on China may cost the average American household hundreds of dollars.
New York Fed economists think the annual cost jumped to $831 this year from $419 from the last round of tariffs last year. They added that “higher tariffs are likely to create large economic distortions and reduce U.S. tariff revenues.”
The tariffs on Chinese goods that went into effect on May 10 — from 10% to 25%. The jump added a tax burden - how much additional money purchases of imports are costing as well as a so-called deadweight loss - meaning companies have to rely on less efficient sources for goods.
CHN sees its 50-day moving average cross bearishly below its 200-day moving average
The 50-day moving average for CHN moved below the 200-day moving average on April 28, 2023. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on May 18, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on CHN as a result. In of 73 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 CHN 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 41 similar instances when the indicator turned negative. In of the 41 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 CHN 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 CHN 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.
Bullish Trend Analysis
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 CHN advanced for three days, in of 322 cases, the price rose further within the following month. The odds of a continued upward trend are .
CHN may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Fundamental Analysis (Ratings)
Industry description
General Information
Category Unknown
CHN and
Correlation & Price change
A.I.dvisor indicates that over the last year, CHN has been closely correlated with MCHI. These tickers have moved in lockstep 91% of the time. This A.I.-generated data suggests there is a high statistical probability that if CHN jumps, then MCHI could also see price increases.
| Ticker / NAME | Correlation To CHN | 1D Price Change % | ||
|---|---|---|---|---|
| CHN | 100% | +3.46% | ||
| MCHI - CHN | 91% Closely correlated | +2.54% | ||
| FXI - CHN | 91% Closely correlated | +2.54% | ||
| KWEB - CHN | 88% Closely correlated | +4.97% | ||
| ASHR - CHN | 76% Closely correlated | +0.79% | ||
| EWT - CHN | 48% Loosely correlated | +0.93% |
