UXIN = $UXIN rose 21.21%. On July 7, 17 departments including the Ministry of Commerce issued a document requesting to speed up the activation of the used car market. As the first Chinese listed second-hand car stock, Uxin’s stock price has already begun to rise. On July 5 and July 6, U.S. time, the cumulative increase in two trading days exceeded 40%
$ UXIN rose...
Price bounced off support line and formed bullish hammer candle pattern. Price touched the ending diagonal last E point. Short interest 1,91%; days to cover 2.5; I think it is a good entry point. We can wait, when the price will form HH for safe entry. Stop loss: candle below support line
We should be better guided by an older and more reliable RSI trendline if we find one (along with the price trendline, parallel channel, or other price models we have. In this case we have main price trendline and the yellow channel), than the price trendline and other price patterns alone, without RSI trendline.
Three month ago, April 22, 2021, Uxin limited, a leading online used car dealer in China, unnounced about strategic partnership with JD.com;
April 28, 2021 reported Third Quarter financial results. The stock price rised six times.
June 15, 2021, after agreements with NIO, Uxin announced financing transaction US$ 315 million. Share price dumped 50%.
Now is time...
Uxin Ltd. operates an online used car transaction services platform. It offers used car online auction, online retail, and financial derivative services. The company was founded by Dai Kun on August 11, 2011 and is headquartered in Beijing, China.