CHB Global X China Biotech Innovation ETF Forecast, Technical & Fundamental Analysis

Aroon Indicator for CHB shows an upward move is likely

CHB's Aroon Indicator triggered a bullish signal on November 27, 2023. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 116 similar instances where the Aroon Indicator showed a similar pattern. In of the 116 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at .

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on November 24, 2023. You may want to consider a long position or call options on CHB as a result. In of 51 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

CHB moved above its 50-day moving average on October 24, 2023 date and that indicates a change from a downward trend to an upward trend.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where CHB advanced for three days, in of 157 cases, the price rose further within the following month. The odds of a continued upward trend are .

Bearish Trend Analysis

The 10-day RSI Indicator for CHB moved out of overbought territory on November 09, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 12 similar instances where the indicator moved out of overbought territory. In of the 12 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 3 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

The Moving Average Convergence Divergence Histogram (MACD) for CHB turned negative on November 27, 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 25 similar instances when the indicator turned negative. In of the 25 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 CHB 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)