By IFCMarkets
The coronavirus epidemic is spreading outside of China.
As of February 24, 77.3 thousand people have been infected in China, 2.6 thousand people died. Iran is in second place by number of deaths (12 people). At the same time, the number of patients in Iran is relatively low and amounts 47. In South Korea there are more than 800 patients, 8 people died. In Italy, more than 200 infected and 7 dead. China produces a significant amount of component parts for US companies. Investors fear supply cuts due to the coronavirus epidemic and its subsequent quarantine. In addition, the demand for American goods has decreased markedly. Particularly, smartphone sales decreased by about a third. The China Passenger Car Association reported a 92% drop in car sales in the first 2 weeks of February to 811 units a day.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Sell | |
| MACD | Neutral | |
| MA(200) | Neutral | |
| MA(50) | Sell | |
| Fractals | Sell | |
| Parabolic SAR | Sell | |
| Bollinger Bands | Sell |
Summary of technical analysis
| Order | Sell |
| Buy stop | Below 3235 |
| Stop loss | Above 3400 |
Market Analysis provided by IFCMarkets
