Will The Rally Continue? Color Star Technology Co Ltd (NASDAQ:CSCW)?

Color Star Technology Co Ltd (NASDAQ:CSCW) is moving up in early session on Thursday.

Market Action

As of 10:13, CSCW stock went up by over 4.50% to $0.97. The stock has traded 685K shares, compared to its average volume of 17.80 million shares.  The stock opened at $0.952 and moved in a range of $0.9400 – 0.9850.

CSCW Releases News Today

Color Star Technology Co., Ltd. Announces Memorandum of Understanding with Movie Planet LLC and Youa Group to Launch Joint Development of Non-Fungible Token (NFT) for Film Databases

  • CSCW announced the signing of a Memorandum of Understanding (“MOU”) on April 23 through its wholly-owned subsidiary, Color China Entertainment Co., Ltd., Movie Planet LLC (hereinafter referred to as “Movie Planet”), and a South Korea-based company, Youa Group (hereinafter referred to as “Youa Group”).
  • Pursuant to the MOU and subject to definitive agreements, the three parties will aim to jointly develop a NFT application for the Hollywood Film Festival and International Film Festival databases.
  • Movie Planet is a Hollywood-based company that focuses on the development of film copyrights. It currently owns the copyrights of many international award-winning films. It also holds large-scale international film exhibitions and has good relationships with the world’s top film actors, film production teams, and screenwriter teams. Youa Group is a global blockchain firm.

Mr. Luke Lu, Color Star’s CEO, commented: “We look forward to finalizing the cooperation with Movie Planet and Youa Gorup. The opportunity to work with a top Hollywood entertainment company and a Korean technology company will accelerate our own technology developments. The discussion about exchange and profit realization of entertainment copyrights have been going on for a long time in the industry. The cooperation among us will be a benchmark, and I believe our future product will soon be available to the public.”

Trader Notes

Share Information

SHARE FLOAT (%)20.75 M (71.92%)

Recent Stock Performance

5-DAY PERF.+19.68%
1-MONTH PERF.-5.99%
3-MONTH PERF.-6.89%
6-MONTH PERF.+94.05%
YTD PERF.+37.54%
1-YEAR PERF.+126.03%

Moving Averages

+/- EMA(20)1.03 (-5.83%)
+/- SMA(50)1.18 (-17.80%)
+/- SMA(200)0.84 (+15.48%)

Pivot Points

NameS3S2S1Pivot PointsR1R2R3

Technical Indicators

CCI20-79.9429SellChaikin Money Flow0.1036Buy
MACD-0.1009SellMoney Flow Index24.2495Sell
STOCH (14,3)28.5619BuySTOCH RSI0.8277OverBought
UO53.2268BuyWilliams %R-71.4381Neutral

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