I won't waste time. Here's what I see.
At this moment this profile is trading just below to key lines of potential resistance in its 50-Day Simple Moving Average (SMA) and its 13-Day Exponential Moving Average (EMA).
If it is able to push through those two lines in the near term, there is a ton of potential room to run all the way up to its 200-Day SMA around $.81.
And as you see above towards the end of May (while also trading around Wednesday's closing valuation), this NYSE American idea was able to go short term rocketing while nearly making a complete double.
Between that and this profile's tiny float, this profile requires immediate attention today:
*Dunxin Financial Holdings Limited (DXF)*
Dunxin Financial was originally established in March 2013 as an innovative fintech company originally engaged in the business of providing loan facilities to micro sized enterprises and individuals. After its business transition, the Company will develop block-chain, NFT digitalization and be involved in the Metaverse business.
And if you're wondering why I've brought this profile to your attention today, here's why:
DXF Has A Tiny Float
According to the Yahoo Finance website, DXF has a low float.
The website reports this profile to have approximately 7.65Mn shares in its float.
Why is that important? It's important on one crucial level. Volatility.
With so few shares available for trading, other potential catalysts (like big news) could spark a vertical move in the short-term.
That's Not All - Big 2022 DXF News Update
Dunxin Financial Holdings Limited Announces Updates and Clarifications on Recent Businesses Development
April 1, 2022 /PRNewswire/ -- Dunxin Financial Holdings Limited (NYSE MKT: DXF) ("Dunxin" or the "Company"), a licensed microfinance lender in Hubei Province, China, today announced that the Company furthers its plan to explore new opportunities based on Metaverse related technologies after two-years' research and analysis, since the announcement of its plan to transition from microfinance to Metaverse related business in November 2021.
On December 29, 2021, Dunxin entered into a non-binding Letter of Intent on business cooperation with Fengniao (International) Network Technology Co., Ltd., a technology company based in Hong Kong that is engaged in the development of digital technology, research and development, production and sales of servers ("Fengniao"). According to this Letter of Intent, Dunxin and Fengniao plan to set up a Computing Power In-vest-ment Fund with the total investment amount of RMB1 Bn, and an intelligence computing power center in Hong Kong and other overseas regions in the next three to five years. In addition, Dunxin and Fengniao plan to cooperate on setting up data center, distributed computing network, big data and computing power services. On January 10, 2022, Dunxin issued a press release under the heading "Dunxin Financial (DXF.US) Sets Up Computing Power Investment Fund and Plans of Intelligence Computing Power Centre based on Metaverse Platform," announcing that Dunxin's sets up a computing power investment fund and an intelligence computing power center. However, as of the date of this press release, the parties are still in the planning stage of the proposed collaboration.
On January 10, 2022, Dunxin entered into a non-binding Letter of Intent with Wuhan Shumu Equity Investment Fund Management Co., Ltd., a block chain game company ("Shumu"), on business cooperation. According to the Letter of Intent, Dunxin and Shumu plan to cooperate on, among others, the setup of a digital copyright online trading platform, digitalized registration, trading and protection of copyrights, block-chain and digital copyrights fund. Related to this cooperation, on January 20, 2022, Dunxin issued a press release under the heading "Dunxin Financial Holdings Limited Forms Partnership with Authorized Digital Copyrights Institution to Develop Global Digital Copyrights Transaction Platform," announcing the plan to set up of a digital copyright trading platform, including proposed structure and investment amounts, among others. Although the Company has not finalized the specifics of the platform or the investment amounts due to delay caused by the resurgence of CV-19 and extensive lockdown measures across the country, the Company plans to have further discussions with Shumu to implement the agreements under the Letter of Intent with Shumu.
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Read the full article here.
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Coverage is officially initiated on DXF. When time permits, do this:
