FXP Stock ProShares UltraShort FTSE China 50 (FXP, $19.04) entered Uptrend as Momentum indicator ascends above 0 level on Oct 15, 2024
FXP's RSI Indicator recovers from oversold territory
The RSI Oscillator for FXP moved out of oversold territory on October 08, 2024. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 29 similar instances when the indicator left oversold territory. In of the 29 cases the stock moved higher. This puts the odds of a move higher at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on October 15, 2024. You may want to consider a long position or call options on FXP as a result. In of 99 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for FXP just turned positive on October 14, 2024. Looking at past instances where FXP's MACD turned positive, the stock continued to rise in of 51 cases over the following month. The odds of a continued upward trend are .
Following a +1 3-day Advance, the price is estimated to grow further. Considering data from situations where FXP advanced for three days, in of 306 cases, the price rose further within the following month. The odds of a continued upward trend are .
FXP may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
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 10-day moving average for FXP crossed bearishly below the 50-day moving average on September 20, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 15 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 FXP 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 FXP entered a downward trend on October 16, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
General Information
Category Trading