Port of Los Angeles will start operating 24/7, Biden announced
U.S. President Joe Biden has announced that the Port of Los Angeles will start operating 24/7. On Wednesday, Biden said that the move is intended to boost supply chains. The current disruption in the global supply chain has pushed up prices of consumer goods.
Around 40% of shipping containers enter the U.S. through the ports of Los Angeles and Long Beach, California.
"My administration is working around the clock to move more goods faster and strengthen the resiliency of our supply chains," Biden tweeted.
GOVT's Indicator enters downward trend
The Aroon Indicator for GOVT entered a downward trend on August 31, 2023. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 191 similar instances where the Aroon Indicator formed such a pattern. In of the 191 cases the stock moved lower. This puts the odds of a downward move at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on September 11, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on GOVT as a result. In of 91 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 GOVT turned negative on September 19, 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 52 similar instances when the indicator turned negative. In of the 52 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 GOVT declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Bullish Trend Analysis
The RSI Indicator entered the oversold zone -- be on the watch for GOVT's price rising or consolidating in the future. That's also the time to consider buying the stock or exploring call options.
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 10 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 GOVT advanced for three days, in of 293 cases, the price rose further within the following month. The odds of a continued upward trend are .
GOVT 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 IntermediateGovernment
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GOVT and
Correlation & Price change
A.I.dvisor indicates that over the last year, GOVT has been closely correlated with SPTI. These tickers have moved in lockstep 98% of the time. This A.I.-generated data suggests there is a high statistical probability that if GOVT jumps, then SPTI could also see price increases.
| Ticker / NAME | Correlation To GOVT | 1D Price Change % | ||
|---|---|---|---|---|
| GOVT | 100% | -0.63% | ||
| SPTI - GOVT | 98% Closely correlated | -0.33% | ||
| SCHR - GOVT | 98% Closely correlated | -0.31% | ||
| VGIT - GOVT | 97% Closely correlated | -0.31% | ||
| XFIV - GOVT | 97% Closely correlated | -0.30% | ||
| IEI - GOVT | 96% Closely correlated | -0.25% | ||
More | ||||