HKD Stock Slipped More Than 20%; Whales Dumping Stakes?
NYSE: HKD stock lost more than 4% on the August 18 trading session; it opened trading at $5.33, lowering to $4.80, it hit a high of $5.39 and closed trading at $5.24 with an intraday trading volume of 1.692 Million.
In the 52 weeks, HKD stock highest traded at $385, and its lowest trading price was $4.80. AMTD Digital Inc. has a market capitalization of $1.003 Billion and its share average trading volume is of 1.15 Million.
In the weekly time frame, AMTD Digital Inc. stock lost 20.85%; the stock price declined over 97% in a year. In pre-market trading sessions, HKD stock might open below its previous closing.
HKD Stock Price Analysis
Buyers lost control over HKD stock on August 14, and the price fell over 5% intraday; the decline was followed till its last trading session of the previous week. A sharp decline of 28% was seen in the last four trading sessions.
After analyzing the technical aspects, it is noticed that the sudden decline in the trading price might lead the HKD stock price to a fresh 52-week low. If sellers continue their coming session, then there are possibilities that HKD stock might fall further.
If buyers succeed in dominating sellers, HKD stock price might face immediate resistance of $6.41 and possibly the next resistance of $7.08. If sellers continue their dominance in the coming session, the stock price might face immediate support of $4.80.
At press time, HKD stock was trading below the 50-day and 200-day exponential moving average. From July 14 till August 11, the stock price seems to be consolidating between $6 and $6.30.
AMTD Digital Inc Earnings & Revenue
In the financial year 2022, AMTD Digital Inc. reported $196.96 Million, from which the company’s net income was $214.28 Million and the operating income of the company was $43.06 Million.
The company’s generated revenue earnings before interest, taxes, depreciation, and amortization (EBITDA) was $88.07 Million, which is 32.20% more than its previous EBITDA.
Technical Levels
- Major support: $4.80 and $4
- Major resistance:$6.41 and $7.08
Conclusion
AMTD Digital Inc. (NYSE: HKD) stock lost 20.85% of its trading price weekly time frame, and in August, HKD stock slipped significantly and hit its all-time low. After analyzing the technical aspects of the stock, it is noted that by the end of the ongoing week, the price might move toward its immediate resistance.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
