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The Chart for Kaixin Auto Holdings (KXIN) Is Flashing Mixed Signals

Kaixin Auto Holdings (KXIN) declined by -6.52% in Thursday trading. The company is currently up 99.47% to date at $3.73 per share on the stock market. Kaixin Auto Holdings (KXIN) has a market capitalization of $241.29 million at writing. KXIN has had an average transaction volume over the last month of 2666610 shares per day, which is behind its average daily volume over the past year by -34.33, showing that market participants have become more passive in this stock lately.

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Kaixin Auto Holdings (KXIN) has been rallying as reflected in the relationship between its 200-day and 20-day moving averages. That said, KXIN stock has risen 57.94% over the last 30 days. Over the past 12 months, the stock has gained 176.30, lagged behind the market by 1068.32%. Additionally, it has trailed competitors and similar names by -1.91%.

 Key Indicators

The chart doesn’t reveal much about where KXIN shares could be headed simply from a cursory study of superficial price points. This is why we ought to check out some of the essential momentum indicators.

The relationship between price changes over time and the underlying strength or weakness can often reveal deeper factors that significantly impact the movement of the pattern, generating insights for technical analysts with the help of momentum factors. We like both RSI and Stochastic %k Oscillator as oscillating indicators. The case is scored on a scale between 0 and 100, and in point, the levels to be on the lookout for are “70” and “30”, with the former representing an “overbought” state and the latter representing an “oversold” state.

 With this in mind, let’s examine KXIN shares through this lens. KXIN is currently trading at 46.63, which indicates it is neither expensive nor cheap and is not at risk of an excessive price movement based on this measure. When we examine the 20-day stochastic %k, we find it at 5.85, indicating an oversold outlook.

 Recent News

 Kaixin Auto Holdings (NASDAQ: KXIN) announced that, on December 31, 2020, it entered into a definitive share purchase agreement with the owners of Haitaoche Limited.

Kaixin and Haitaoche announced this Share Purchase Arrangement on November 5, 2020, as a replacement for the contractual term sheet. By the Share Buying Arrangement, Kaixin would acquire 100% of Haitaoche’s shares. Kaixin will issue the Sellers a total of 74,035,502 common shares as a consideration for the purchase.

As the acquisition is a transaction where the Corporation is merged with a non-Nasdaq party resulting in the change in ownership, an initial listing is required under Regulation 5110(a) of the Nasdaq Stock Exchange. The organization hopes that the deal will close by March 31 2021, subject to Nasdaq approval and other closing conditions.

Haitaoche is an online shopping site for imported vehicles located in China. The automotive industry is in the midst of a breakthrough era of significant business model breakthroughs. Government funding for clean energy cars, even improving and recent innovation in technological growth experienced. Haitaoche was founded by Mr Mingjun Lin and Mr Yun Wu. Mr Lin was also appointed as Kaixin’s acting CEO on November 3, 2020.

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