RLX Technology Inc., together with its sister companies, manufactures, distributes, and puts up for sale e-vapor products in the People’s Republic of China. RLX stock average volume is 11.219 Million and the current volume is 5.914 Million where the current volume is below the average volume. RLX Technology Inc. publicized that they will report Q2, 2023 results pre-market by August 18th, 2023.
RLX Tech. has a debt-to-equity ratio of 0%, as reported by Simply Wall St. This implies that it has zero debt than equity, which is the difference between its total assets and total liabilities. RLX Tech. debt is zero, while its equity is $15.58 Billion. Moreover, RLX Technology Inc. (RLX) stock market capitalization is $2.101 Billion and the total revenue is $784.131 Million. Moreover, the stock’s basic EPS is $0.08 and the price-to-earnings ratio is 20.81.
Technical Analysis of RLX Stock Price in 1-D Timeframe
The price action shows that RLX Tech Inc. (NYSE: RLX) stock price has been on a falling trend for the last three months, falling by 29.87% making lower highs and lower lows, and continuously following trendline resistance and declining.
At the time of writing, RLX stock is facing nearest resistance around $1.89 and trading at around $1.62 and declining.
Therefore, if the RLX price fails to sustain the current level and drops, it might hit the nearest support levels of $1.46 and $1.24.
However, if it maintains the current level, the RLX prices could continue to move upward and reach the first and second resistances of $1.89 and $2.19.
At the time of publishing, RLX Technology Inc. (NYSE: RLX) is trading below the 20, 50, 100, and 200-day EMA (exponential moving averages), which rejects the RLX price trend.
Hence, the RLX price is expected to move downwards showing a bearish overview over the daily time frame chart.
The current value of RSI is 46.67 points. The 14 SMA is below the median line at 45.89 points, which indicates that RLX stock is in a bearish territory and both lines are closed on each other, symbolizing consolidation in the price.
The MACD line at 0.0300 and signal line at 0.0415 are above the zero line and both lines have narrowed on each other. A bearish crossover is anticipated next in the MACD oscillator which signals bearishness for the RLX stock price.
Summary
RLX Technology Inc. (NYSE: RLX) indicates that the investors and traders of the stock price are bearish on the 1-D time frame. The price action reflects a bearish outlook at the time of publishing. The technical analysis tools of RLX stock price also support bearishness. The MACD, RSI, and EMA highlight negative signals and imply that a downtrend may continue in RLX stock price.
Technical Levels
- Support levels: The nearest support levels for RLX stock price are $1.46 and $1.24.
- Resistance levels: The nearest resistance levels for the RLX stock price are $1.89 and $2.19.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/08/12/rlx-tech-stock-price-prediction-can-rlx-fall-below-1-soon/