FXB Stock Tickeron detected bearish ETF Pattern: Wedge Rising FXB on October 09, 2024, netting in a 4.67% gain over 1 month

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FXB - Invesco CcyShrs® British Pound Stlg

Ticker: FXB

Company: Invesco CcyShrs® British Pound Stlg

Gain from shortening: +4.67%

Confirmed: 10/09/24

Succeeded: 11/13/24

Total length: 47 days

FXB's Indicator enters downward trend

The Aroon Indicator for FXB entered a downward trend on November 15, 2024. 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 220 similar instances where the Aroon Indicator formed such a pattern. In of the 220 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 November 08, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on FXB as a result. In of 89 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 FXB turned negative on November 11, 2024. 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 45 similar instances when the indicator turned negative. In of the 45 cases the stock turned lower in the days that followed. This puts the odds of success at .

FXB moved below its 50-day moving average on October 14, 2024 date and that indicates a change from an upward trend to a downward trend.

The 10-day moving average for FXB crossed bearishly below the 50-day moving average on October 16, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 14 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 .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where FXB 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 demonstrates that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 3 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 FXB advanced for three days, in of 338 cases, the price rose further within the following month. The odds of a continued upward trend are .

FXB may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.