The9 Limited Rallies After Acquiring Clean Energy Cryptocurrency Company: Technical Levels To Watch
The9 Limited (NASDAQ:NCTY) shares gained ground Friday after the company announced it signed a definitive agreement to acquire the Canadian clean energy cryptocurrencies mining facility MontCrypto. The9 Limited plans to invest CA$7.6 million ($6.3 million) in two phases to obtain a controlling stake.
The9 Limited was up 25% at $13.68 at last check.
The9 Limited Daily Chart Analysis
Shares have been falling in the last few months and are trading in what technical traders call a falling wedge pattern.
The stock is trading below both the 50-day moving average (green), and the 200-day moving average (blue), indicating sentiment in the stock is likely bearish.
A Technical Look At Micron s Stock
Micron Daily Chart Analysis:
Micron shares look to be consolidating after making a large run-up during the months of November 2020 through February 2021.
The stock is trading below the 50-day moving average (green), but above the 200-day moving average (blue), indicating the stock is most likely facing a period of consolidation.
The 50-day moving average may hold as resistance, while the stock may find support near the 200-day moving average.
Key Levels To Watch:
The stock showed that it was able to find support near the $75 level. The stock may be able to find support near this area again.