FXI IS CHINA's ETF PLEASE READ WHY THIS STOCK IS GOING UP Chinese GDP expanded by almost 5% on a year-over-year basis ending in Q3 of 2020, signaling sustained economic recovery for the initial pandemic ground-zero.
Believe it or not (and I literally mean "believe it or not"), China seems to be ahead the U.S. in terms of coronavirus recovery. China posted an increase in retail sales of 3.3% in September, compared to U.S. retail sales, which grew 1.9% in September (beating +0.7% expectations).
Even if you're a short-term trader, you should be thinking about the next bigger trend. You want to buy your position when the stock or the fund experiences a short-term decline and looks like it's going to reverse back up.
The ETF is only up by .19 today and the volume is fairly low, however all indicators are showing strong "buy" signals. Today would have been the perfect day to enter the trade but I gathered all the stats after the market closed. It closed at $44.28 and I would not be surprised if it goes up by "Opening Bell" tomorrow especially now with China's COVID STATS published.
Remember all trading involves risk. This an idea and an opinion.
