Free Digital Markets
Archive

November 19, 2024

Browsing
Stock

Equities Look for “Energy” in “Go” Trend

By

Good morning and welcome to this week’s Flight Path. Equities saw the “Go” trend continue this week but we saw weaker aqua bars at the end of the week. Treasury bond prices painted strong purple “NoGo” bars as the weight of the evidence suggested the “NoGo” will continue. U.S. commodities painted aqua “Go” bars after flirting with amber “Go Fish” bars of uncertainty last week. The dollar showed no weakness this week with an uninterrupted string of bright blue “Go” bars.

$SPY Paints Weaker “Go” Bars after High

The GoNoGo chart below shows that after hitting a new higher high on strong blue “Go” bars we saw a Go Countertrend Correction Icon (red arrow) signaling that price may struggle to go higher in the short term. Indeed, price fell in the following days, and GoNoGo Trend has painted weaker aqua bars. We will watch to see if price finds support at last month’s high. GoNoGo Oscillator also has fallen to test the zero line from above and we will watch to see if it finds support here as well. If the oscillator rallies back into positive territory we will look for price to make an attempt at another higher high.

A Go Countertrend Correction Icon (red arrow) has showed itself on the weekly chart after last week saw price fall into the end of the week. GoNoGo oscillator is in positive territory at a value of 3 and so no longer overbought. We will watch to see if it falls toward the zero line from here and if it does we will monitor for signs of support. GoNoGo Trend is painting strong blue “Go” bars as momentum remains positive confirming the direction of the trend.

Treasury Rates See Continued Strength

Treasury bond yields saw the “Go” trend continue this week and after a couple of weaker aqua bars the indicator showed a return to strength with bright blue bars all week as price rallied to challenge for new highs. GoNoGo Oscillator was perhaps responsible for the rally as we saw it bounce of the zero line into positive territory at the beginning of the week. Now, with GoNoGo Trend painting strong blue bars the oscillator is in positive territory at a value of 2.

The Dollar Remains at Elevated Levels

A week of strength propelled price to new highs again this week as GoNoGo Trend painted a string of unbroken bright blue “Go” bars. We are seeing a Go Countertrend Correction icon (red arrow) on the current bar as there is some waning momentum finally.  GoNoGo Oscillator has fallen out of overbought territory and is approaching the zero line. We will watch to see if it finds support as and when it gets there. If it rallies quickly back into positive territory we will see that as a sign of trend continuation for the greenback.

Keep Reading
By
Stock

Stocks: “…a PERMANENTLY high plateau”?

By

Today we explore the bullish sentiment that has taken SPX valuations to the moon. There are many out there that believe we have hit a plateau on prices that will continue permanently. We talk about the quote: “Stock prices have reached ‘what looks like a permanently high plateau,’ Irving Fisher, Yale economist, told members of the Purchasing Agents Association at its monthly dinner meeting…” When did this quote come out? Carl reviews our earnings chart.

Carl looks at our signal tables to get a sense of the condition of the market. Then he discusses his outlook for the market as well as covering Bitcoin, Yields, Bonds, Gold, the Dollar, among others.

After covering the market, Carl analyzes the short- and intermediate-term charts of the Magnificent Seven. NVDA reports earnings on November 18th.

Carl takes some time to look at Real Estate (XLRE) “under the hood” and discusses its nearing Dark Cross Neutral Signal that is on tap.

Erin covers sector rotation, comparing defensive sectors to aggressive sectors. She looks under the hood at Utilities which is a sector that is showing new momentum among the sectors. With a possible market decline continuing, this defensive area of the market could find favor and continue higher.

The pair finish with looking at viewer symbol requests with an eye toward the intermediate term today.

JOIN US LIVE on Mondays at Noon ET by registering to attend here: https://us06web.zoom.us/webinar/register/WN_D6iAp-C1S6SebVpQIYcC6g

TRY OUT any of our subscriptions for two week FREE using coupon code: DPTRIAL2 at checkout here: https://www.decisionpoint.com/products.html

01:03 “…a permanently high plateau”?

03:35 DP Signal Tables

05:50 Market Analysis

15:44 Magnificent Seven

21:44 Real Estate Sector

23:12 Questions

28:06 Sector Rotation

40:06 Symbol Requests

Introducing the new Scan Alert System!

Delivered to your email box at the end of the market day. You’ll get the results of our proprietary scans that Erin uses to pick her “Diamonds in the Rough” for the DecisionPoint Diamonds Report. Get all of the results and see which ones you like best! Only $29/month! Or, use our free trial to try it out for two weeks using coupon code: DPTRIAL2. Click HERE to subscribe NOW!

Learn more about DecisionPoint.com:

Watch the latest episode of the DecisionPointTrading Room on DP’s YouTube channel here!

Try us out for two weeks with a trial subscription!

Use coupon code: DPTRIAL2 Subscribe HERE!

Technical Analysis is a windsock, not a crystal ball. –Carl Swenlin

(c) Copyright 2024 DecisionPoint.com

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.

Helpful DecisionPoint Links:

Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

Swenlin Trading Oscillators (STO-B and STO-V)

ITBM and ITVM

SCTR Ranking

Bear Market Rules

Keep Reading
By
Stock

MarketCarpets Secrets: How to Spot Winning Stocks in Minutes!

By

When looking for stocks to invest in, spotting strong stocks in promising sectors poised to bounce can be tricky and complicated. You have to forecast a sector’s likely position in the coming months, find stocks within those sectors that are relatively strong, and then dentify which ones are declining and which are near a bullish reversal.

Rather than following each stock individually to check if it meets the criteria, you can get a big-picture view with fewer steps using this tip for StockCharts’ highly useful MarketCarpets tool.

The first step is to analyze each sector, which you’ve hopefully included as part of your ChartLists. If you don’t have an S&P Sectors ChartList, it’s time to create one. If you read my article last week, you’d know that the strongest month for the Communications Services sector (using XLC as our proxy) is January. Right now, the sector is starting to pull back, yet XLC’s StockChartsTechnicalRank (SCTR) stands at 94, above the ultra-bullish 90 range.

You can also confirm this by opening up your MarketCarpets, selecting S&P Sector ETFs in the Select Group menu, selecting Bollinger Band Position in the Measurements menu, and selecting Latest Value in the Color By menu.

FIGURE 1 MARKETCARPETS CHART OF SECTOR ETFS. Notice that XLC is between +100 and -100, meaning it’s above the middle Bollinger Band.Image source: StockCharts.com. For educational purposes.

The Bollinger Band Position tells you where the stock is within the indicator:

  • If the stock is near the top line, it’s close to +100.
  • If it’s near the bottom line, it’s closer to -100.
  • If it’s around the middle line (the average), it’s near 0.

XLC, the Communications sector proxy, is above the middle band and declining. So, why choose XLC over other sectors that are also declining but likely to bounce? Because XLC has an SCTR score of 94, and its seasonality profile is more favorable than the others.

FIGURE 2. SEASONALITY CHART OF XLC. January is a strong month for XLC and tends to outperform the S&P 500.Image source: StockCharts.com. For educational purposes.

The sector tends to decline in November but rises in December and January, its strongest seasonal month relative to the S&P 500.

Now go back to MarketCarpets and, under the Select Group menu, click on the Communications Sector.

FIGURE 3. MARKETCARPETS CHART OF THE COMMUNICATIONS SECTOR. Quite a mixed bag of stocks spread all over the upper and bottom bands.Image source: StockCharts.com. For educational purposes.

Remember the objective of this particular stage: You’re looking for strong stocks near the middle Bollinger band.

Now that you can see where each stock is positioned relative to the middle band, you’ll want to check their SCTR scores and overall momentum on a daily chart. Review each stock that meets the criteria and catches your interest.

This morning, I found DoorDash (DASH), part of the Internet industry group, to be particularly interesting. It currently has a Bollinger Band Position of 53%. While DoorDash may not be the flashiest stock on Wall Street, it plays a key role in helping families by providing meal delivery when they’re short on time. Take a look at a daily chart of DoorDash below.

FIGURE 4. DAILY CHART OF DASH. The stock may be bound for a pullback. However, it also displays more buying pressure than its other sector peers.Chart source: StockCharts.com. For educational purposes.

If you go through the list of stocks in the previous MarketCarpets chart, you’ll find that many of the bigger names either lack buying pressure or display selling pressure based on the Chaikin Money Flow (CMF). The CMF may be receding a bit here, and surprisingly, buyers jumped in to scoop up shares of DASH as soon as it began dipping. However, DASH is in overbought territory according to the Money Flow Index (MFI), suggesting that further declines might be possible (unless buyers en masse decide that now’s the time to jump in).

Ideally, the price would fall closer to the middle Bollinger Band, which coincides with the second and third quadrant lines, both levels indicating strength within a pullback (see green rectangle). The bottom quadrant line marks the lowest swing point. If DASH closes below this level, then the current uptrend will no longer be valid.

Closing Bell

Finding the right stocks is all about following a structured process. By combining MarketCarpets with the Bollinger Band Position view, you can get a clearer picture of stocks positioned for a potential bounce. Start with sector analysis and drill down to find the best picks. Not only does this approach save time, it’s one of the few efficient ways to go through this process both quickly and effectively, which is a key advantage in a rapidly changing market.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Keep Reading
By
Investing

Australian Ethics Committee Approval to Expand PD-L1 Nanobody (RAD204) Phase 1 Trial in Multiple Tumor Types

By

Radiopharm Theranostics (ASX:RAD, “Radiopharm” or the “Company”), a clinical-stage biopharmaceutical company focused on developing innovative oncology radiopharmaceuticals for areas of high unmet medical need, is pleased to announce it has been granted Human Research Ethics Committee (HREC) approval to include participants with Programmed Death-Ligand 1 (PD-L1) positive Small Cell Lung Cancer (SCLC), Triple Negative Breast Cancer (TNBC), Melanoma, Head and Neck Cancer (HNSCC), and Endometrial Cancer, as part of its ongoing Phase 1 clinical trial of 177Lu-labelled RAD204 for the treatment of PD-L1 expressing cancers.

  • The Human Research Ethics Committee (HREC) in Australia has approved the inclusion of five additional PD-L1 expressing solid tumors, beyond Non Small Cell Lung Cancer (NSCLC), for a Phase 1 therapeutic trial of RAD204.
  • 16 patients previously dosed in a Phase 1 diagnostic study demonstrated safety and biodistribution, validating the potential of 177Lu-RAD204 for the treatment of advanced PD-L1 expressing cancers.

The open-label Phase 1 trial, entitled “Phase 0/1 Study of the Safety and Tolerability of 177Lu- RAD204, a Lutetium-177 Radiolabelled Single Domain Antibody Against Programmed Cell Death- Ligand 1 in Patients with Metastatic Solid Tumours”, is a First-In-Human dose escalation trial of 177Lu- RAD2041, and is designed to evaluate the safety and preliminary clinical activity of this novel radiotherapeutic in eligible individuals with PD-L1 expressing advanced cancers.

The trial is currently ongoing and recruiting at four sites across New South Wales, South Australia and Western Australia, with the support of leading oncology care provider GenesisCare CRO.

RAD204 is a single-domain monoclonal antibody (sdAb) that targets PD-L1, a protein that helps control the immune system and is overexpressed in many solid cancers, making it an attractive therapeutic target in tumor types that include NSCLC, SCLC, TNBC, Cutaneous Melanoma, HNSCC, and Endometrial Cancer2. Previously published3 Phase I imaging data of 16 NSCLC patients with RAD204 have demonstrated that the diagnostic compound is safe and is associated with acceptable dosimetry. Tumor targeting with radioimmunotherapies such as 177Lu-RAD204 has the potential to address resistance mechanisms to current standard-of-care treatment options4.

“The implications of including additional PD-L1 expressing tumor types beyond NSCLC in this study is far-reaching,” said Riccardo Canevari, CEO and Managing Director of Radiopharm Theranostics. “Patients with five additional PD-L1 expressing tumor types are now eligible for this basket trial, supporting the potential of 177Lu-RAD204 for a tumor-agnostic indication and as an effective radioimmunotherapy based on a pan-tumor predictive biomarker. With RAD204, we hope to provide an alternative strategy that can improve clinical outcomes for patients with PD-L1 positive advanced cancers, while potentially preserving their quality of life.”

About Radiopharm Theranostics

Radiopharm Theranostics is a clinical stage radiotherapeutics company developing a world-class platform of innovative radiopharmaceutical products for diagnostic and therapeutic applications in areas of high unmet medical need. Radiopharm has been listed on ASX (RAD) since November 2021. The company has a pipeline of six distinct and highly differentiated platform technologies spanning peptides, small molecules and monoclonal antibodies for use in cancer, in pre-clinical and clinical stages of development from some of the world’s leading universities and institutes. The pipeline has been built based on the potential to be first-to-market or best-in-class. The clinical program includes one Phase II and three Phase I trials in a variety of solid tumour cancers including breast, kidney and brain. Learn more at radiopharmtheranostics.com.

Click here for the full ASX Release

This post appeared first on investingnews.com

Keep Reading
By
Investing

John Feneck: Why Gold is Down, 10+ Mining Stocks on My Radar Now

By

John Feneck, portfolio manager and consultant at Feneck Consulting, shared his thoughts on gold’s post-US election price drop, saying it doesn’t mean the metal won’t thrive once Donald Trump takes office again.

Feneck also gave updates on mining stocks he’s watching right now.

On the gold side, he mentioned companies such as US Gold (NASDAQ:USAU), Badlands Resources (TSXV:BLDS,OTC Pink:BDLNF) and Inflection Resources (CSE:AUCU,OTCQB:AUCUF), which also has a copper component.

Aside from that, Feneck discussed ‘special situations,’ mentioning Guardian Metal Resources (LSE:GMET,OTCQX:GMTLF) and Angkor Resources (TSXV:ANK,OTCQB:ANKOF). The former is exploring for tungsten, while the latter is focused on gold and copper, but also produces oil, an angle Feneck said should be compelling under Trump.

Overall, he remains bullish not just on gold, but also on gold-focused companies.

‘I would just say don’t just own gold,’ Feneck said in closing. ‘If you own gold and you’re watching this, you have to own gold stocks. If you believe in the metal, you have to believe in some of these companies that are finding the metal.’

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Keep Reading
By
Investing

How to Invest in Chromium Stocks (Updated 2024)

By

Chromium is a metal for the modern age with a bright future.

It is one of the more durable metals available, and is an integral component of stainless steel, which is used in infrastructure and machinery and supports construction activity around the world. The United States Geological Survey (USGS) estimates that most stainless steel contains roughly 18 percent chromium.

Although it’s not as well known as some metals, chromium can be a compelling investment opportunity. To help those interested in the space, we’ve put together a brief guide on chromium, its supply and demand dynamics, as well as how to start investing in this industrial metal.

In this article

    What is chromium?

    Chromium is a hard, silvery metal that has a high resistance to heat, corrosion and decomposition. It can be highly polished and reflects much of the visible light spectrum. In fact, the name chromium comes from the Greek word for color. Chromium’s symbol on the periodic table of elements is Cr.

    Not found on its own as a free metal, chromium exists in nature in a variety of minerals, including chromite, which is mined as the primary source of chromium and ferrochrome for industrial purposes.

    Chromite is a crystalline mineral composed primarily of iron oxide and chromium oxide compounds. It is found in polymetallic ore deposits, typically along with magnesium, aluminum and silica. Producing chromium metal from this ore is achieved via either electrolysis or a thermal reduction process known as the aluminothermic process.

    What is chromium used for?

    The vast majority of chromium is used in metallurgical applications, mostly for the stainless steel sector, and it is also used for a number of applications in the chemical industries, including tanning, printing, dyeing, medicine, fuel, catalysts and oxidants.

    Ferrochrome, a ferroalloy that includes iron and chromium, is added to stainless steel to harden it, and improve its corrosion resistance and appearance, which makes it especially useful in the construction, transportation and automotive industries. In the automotive industry, chromium is involved in the production of car brake pads as well as in decorative trim.

    Chromium alloys are also used in the aerospace, defense, and electronics sectors. In the aerospace industry, the metal is used for protecting engine parts, landing gear, and hydraulic systems. In the defense sector, chromium is an ideal material for tanks and armored vehicles. Circuit boards are a major application for chromium in the electronics industry.

    Chromium’s chemical applications use different chromium oxides that have their own unique qualities.

    Chromium supply and demand trends

    Much of the supply and demand trends in the chromium market are dictated by the health of the stainless steel industry. In fact, Precedence Research forecasts that the global chromium market will experience a 5.5 percent compound annual growth rate between 2024 and 2034 to reach a value of US$40.84 billion.

    The firm predicts the biggest driver will be an increase in demand for stainless steel in a broad range of sectors. Looking at applications for chromium, the metallurgical segment represented 92 percent of revenue share for 2023. As for market share by material, ferrochromium represented 32 percent of the market share in 2023.

    Asia Pacific garnered 50 percent of the market share in this space for the year. Precedence Research credits this to China and India’s significant growth in its industrial, infrastructure and manufacturing sectors.

    “The widespread application of chromium in producing stainless steel for construction and automotive sectors, along with the rising demand for electronics, contributes to the region’s market dominance,” the research firm’s analysts stated. “Furthermore, Asia-Pacific’s pivotal role as a global manufacturing hub, fueled by economic development and urbanization, underscores its significant influence in shaping the chromium market landscape.”

    In terms of supply, the majority of the world’s chromium production originates as a by-product from polymetallic mining operations in South Africa, Turkey and Kazakhstan. According to the US Geological Survey, South Africa is the top chromite producing country, with an output of 18 million metric tons of chromite in 2023, beating out the rest of the world’s chromite producers by a wide margin.

    Interestingly, South Africa used to be the world’s largest producer of ferrochrome as well. However, it lost that title in 2012 to China due to power supply constraints, as chromium production requires a lot of energy. More recently, disruptions to South Africa’s electricity supply on top of rail transportation challenges contributed to a decrease of 6 percent in total chromite production compared to 2022 production levels.

    Business Research Insights sees the limited availability of high-quality chromite and chrome ore reserves coupled with increasingly stringent environmental regulations over mining activities as the greatest hindrance to growth on the supply side of this market.

    How to invest in chromium stocks

    Chromium investing can be challenging, as there are few pure play investment choices. Many investors interested in this market choose to buy shares of publicly traded chromium companies engaged in chromite exploration and production.

    Major chromite miners

    Anglo American Platinum (OTC Pink:AGPPF,JSE:AMS)
    Anglo American Platinum is a subsidiary of British miner Anglo American (LSE:AAL), which controls a diverse resource portfolio that includes economically important commodities such as copper, diamonds, platinum and iron ore. Anglo American Platinum owns three operating platinum group metals (PGM) mines in South Africa with chromite recovery plants on site: Amandelbult, Modikwa and Motololo.

    Glencore (LSE:GLEN,OTC Pink:GLCNF)
    Glencore is the world’s largest publicly traded chromite producer, and its Bushveld Complex in South Africa is responsible for much of the country’s output of the metal. Glencore also produces chromium products down the value chain via smelter. Its ferrochrome production for 2023 came in at 1.16 million metric tons.

    Impala Platinum Holdings (OTCQX:IMPUF,JSE:IMP)
    Impala Platinum Holdings, commonly called Implats, is another PGM producer with significant chromite production. The company holds a 46 percent stake in the Two Rivers mine in South Africa.

    Outokumpu (FWB:OUTA)
    Outokumpu is a global stainless steel manufacturer which owns the Kemi mine, Finland’s major chromium-producing operation. According to mining database MDO, Kemi is the only chrome mine in the European Union, and it’s set to become the first carbon-neutral mine in the world by 2025.

    Tata Steel (NSE:TATASTEEL,BSE:500470)
    Tata Steel is a multinational steel manufacturer based in India. The company has a ferroalloys and minerals division that includes its brand Tata Tiscrome. It also owns raw materials operations, including the Sukinda and Saruabil chromite mines in its home country.

    Junior chromite miners

    KWG Resources (CSE:CACR,CSE:CACR.A)
    KWG Resources, which does business as the Canadian Chrome Company, is an exploration stage company with a focus on chromite assets in the Ring of Fire region of Northern Ontario, Canada. These include the Black Horse and Big Daddy projects.

    Canada Nickel Company (TSXV:CNC,OTCQX:CNIKF)
    Canada Nickel Company is advancing on its wholly owned flagship Crawford nickel-cobalt sulphide project located in the Timmins-Cochrane mining camp of Ontario, a hotbed for chromium in North America. The company plans to establish a stainless steel and alloy production facility to process the nickel-chromium magnetite concentrate from the Crawford nickel project to produce alloy products for the stainless steel market.

    Future Metals (ASX:FME,LSE:FME)
    Future Metals is an exploration company that is advancing its wholly owned Panton PGM-nickel-chromite project in Western Australia. The company plans to produce a PGM concentrate and a chromite concentrate from the site.

    Panton has a JORC-compliant mineral resource estimate of 92.9 million metric tons at 1.5 grams per metric ton PGMs, 0.2 percent nickel and 2.7 percent chromium oxide for contained metal totaling 2.16 million ounces palladium, 1.95 million ounces platinum, 185,000 metric tons nickel and 2.8 million metric tons chromium oxide.

    Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

    This post appeared first on investingnews.com

    Keep Reading
    By
    Investing

    Russia Restricts US Uranium Exports, Retaliating to American Ban

    By

    The Russian government has imposed temporary restrictions on enriched uranium exports to the US.

    Announced on November 15, the move follows the US’ decision toban imports of Russian uranium.

    While the US legislation went into effect in August, it allows for waivers to address potential supply disruptions through 2027. The new Russian policy introduces uncertainty during this time period.

    According to the US Energy Information Administration, Russia provided 27 percent of the enriched uranium used in American reactors in 2023. Globally, the country accounts for about 44 percent of enrichment capacity.

    To illustrate, Urenco — a consortium-owned company operating the only US-based enrichment facility in New Mexico — supplies only about one-third of the country’s enriched uranium.

    While the restrictions from Russia don’t leave the US without recourse, as utilities typically secure uranium supply years in advance, analysts are warning that continued restrictions could pose challenges from 2025 onward.

    Market responses to the news were swift. Cameco (TSX:CCO,NYSE:CCJ), a leading uranium producer, emphasized in a statement to Bloomberg the need for coordinated western action to reduce reliance on Russian nuclear fuel.

    Shares of uranium companies reflected the heightened supply concerns, with Cameco’s share price jumping as much as 6.5 percent on the TSX on November 15. US-based uranium firms such as Uranium Energy (NYSEAMERICAN:UEC) and Ur-Energy (TSX:URE,NYSEAMERICAN:URG) also experienced upticks that day.

    Meanwhile, shares of Centrus Energy (NYSEAMERICAN:LEU), the biggest US trader of Russian enriched uranium, fell by close to 9 percent on November 15 as investors weighed the potential impacts of the restrictions.

    The company said it had not received details surrounding Russia’s decree and was assessing the implications.

    Centrus also noted that it has contingency plans to mitigate near-term impacts should Russia’s state-owned uranium supplier, Tenex, face challenges fulfilling existing agreements. Centrus is one company that has received a waiver from the Biden administration to continue importing Russian uranium despite the US ban.

    Constellation Energy (NASDAQ:CEG) has also received a waiver, and other requests are reportedly pending.

    Russia’s actions come amid broader geopolitical tensions and follow President Vladimir Putin’s earlier call for the country to consider restricting exports of uranium, titanium and nickel in response to western sanctions.

    At the same time, the US government has been actively working to rebuild its uranium enrichment capabilities. A multibillion-dollar initiative to expand these operations is underway, but progress has been slow.

    Overall, the US is currently looking triple its nuclear capacity by 2050, with plans to add 200 gigawatts of new nuclear energy through reactor builds, reactivations and upgrades to existing facilities.

    Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

    This post appeared first on investingnews.com

    Keep Reading
    By
    Editor's Pick

    Car crashes into people outside primary school in central China: state media

    By

    Multiple students were injured after a car crashed into people outside a primary school in central China on Tuesday morning, state news agency Xinhua reported.

    It’s not clear how many people were injured in the incident, which took place in Hunan province’s Changde city. In a brief report, state broadcaster CCTV said “specific casualties were being investigated.”

    Another showed multiple people, including adults, lying on the road, apparently injured. Police could be seen handcuffing a man in front of a vehicle.

    The police have yet to release a report about the incident. Images circulating online of the incident were quickly wiped from social media platforms.

    The country has been rocked by a recent spate of public attacks, which have rattled a population long used to low rates of violent crime and sent censors into overdrive removing videos on social media and moderating online discussion.

    China saw its deadliest known attack in a decade last Monday, when 35 were killed after a man plowed his car into crowds exercising at an outdoor sports center in the southern city of Zhuhai. Days later, eight people were killed and 17 others injured in a stabbing attack on a college campus in eastern China.

    Sudden episodes of violence in recent months targeting random members of the public – including school children – have surged across the country as economic growth stutters, with many online warning each other to be cautious as people are becoming more desperate and unstable.

    In October, police arrested a 50-year-old man after a stabbing attack near an elementary school in Beijing injured five people, including three children.

    In September, three people were killed and 15 others injured in a knife attack at a suburban supermarket in Shanghai.

    Also in September, a bus crashed into a crowd of students and parents outside a school in Tai’an city in Shandong province, killing 11 people and injuring 13 others. The authorities did not reveal whether it was accidental or deliberate.

    This post appeared first on cnn.com

    Keep Reading
    By