9F Inc (NASDAQ:JFU) Stock Breakout On High Volume: Will The Rally Continue?

The Chinese financial services firm 9F Inc (NASDAQ:JFU) saw some heavy action in its stock on Thursday and it ended up clocking gains of as much as 27%. While it is true that there was no news regarding the company on Thursday, it should be noted that earlier on this month, the stock had managed to clock strong gains as well.

At the time, the 9F stock had rallied in anticipation of an ‘extraordinary general meeting’. This particular meeting with the shareholders are going to take place on July 8, 2021.

However, at the same time, it is necessary to note that the main agenda of this meeting is not something that should have led to such a rally earlier on this month. At this meeting, the possibility of changing the name of the company from 9F Inc to Ether Securities Inc is going to be considered. If the management deems it fit then the name might be changed. At this point, investors could consider keeping an eye on any upcoming news about the company.

Market Reaction:

On Thursday, JFU stock gained 27.35 % to $2.84 with more than 45.56 million shares, compared to  its average volume of 1.46 million shares. The stock has moved within a range of $0.7200 – 9.6500 after opening the trade at $2.36. Over the past 52-week, the stock has been trading within a range of $0.7200 – 9.6500.

Moving Averages

+/- EMA(20)2.02 (+40.59%)
+/- SMA(50)1.61 (+76.40%)
+/- SMA(200)1.49 (+90.60%)

Pivot Points

NameS3S2S1Pivot PointsR1R2R3

Related Posts

About The Author