U.S. consumer price annual inflation in October reached the fastest pace in 30 years , as revealed in the Bureau of Labor Statistics data.
Headline CPI in October was estimated to be 6.2% year-over-year, up from the 5.4% pace in September. October pace is the fastest rate since 1990. Month-over-month, inflation was up +0.9%.
Core inflation, which strips-out volatile components food and energy prices, was +0.6% on the month, and +4.6% year-over-year.
The increase in prices for energy, rent, food, cars and many other goods and services is weighing on consumer purchasing power.
Fed Chairman Jerome Powell and other senior Fed leaders have said that inflation should cool off next year and fall back close to their 2% target, but they also indicated that upward price pressures have been stronger than they anticipated.
Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where GOVT declined for three days, in of 276 cases, the price declined further within the following month. The odds of a continued downward trend are .
The Momentum Indicator moved below the 0 level on May 16, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on GOVT as a result. In of 86 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 May 08, 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 49 similar instances when the indicator turned negative. In of the 49 cases the stock turned lower in the days that followed. This puts the odds of success at .
GOVT moved below its 50-day moving average on May 17, 2023 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for GOVT crossed bearishly below the 50-day moving average on May 19, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 11 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where GOVT's RSI Oscillator exited the oversold zone, of 42 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 9 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 291 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.
|ETFs / NAME||Price $||Chg $||Chg %|
|Direxion Daily S&P Biotech Bear 3X ETF|
|Amplify BlackSwan ISWN ETF|
|Vanguard Materials ETF|
|ETFMG Prime Mobile Payments ETF|
|AdvisorShares Dorsey Wright Micro-Cp ETF|
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.
|SPTI - GOVT|
|VGIT - GOVT|
|SCHR - GOVT|
|IEI - GOVT|
|SPMB - GOVT|