The Hourly View for FUTU
list(“500 – Internal server error”) This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning above it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
FUTU’s Technical Outlook on the Daily Chart
Currently, FUTU’s price is up $3.01 (2.27%) from the day prior. This move is a reversal from the day prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 100 day timeframe. Of note is that the 50 day changed directions on FUTU; it is now pointing down. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. Futu Holdings Ltd’s price action over the past 90 days can be seen via the chart below.
For FUTU News Traders
News traders keeping an eye on FUTU may find value in this recent story:
HONG KONG, April 21, 2021 (GLOBE NEWSWIRE) — Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading one-stop financial technology platform in China, today announced the pricing of the offering of 9,500,000 American depositary shares (the “ADSs”), each representing eight Class A ordinary shares of the Company (the “ADS Offering”), at a price of US$130 per ADS. The Company will grant the underwriters in the ADS Offering a 30-day option to purchase up to an additional 1,425,000 ADSs. BofA Securities, Inc. and Haitong International Securities Company Limited are acting as joint bookrunners for the ADS Offering. The ADSs are offered under the Company’s shelf registration statement on Form F-3 (the “Form F-3”) which was filed with the Securities and Exchange Commission (the “SEC”) and automatically became effective on August 17, 2020. The ADS Offering is being made only by means of a prospectus supplement and an accompanying prospectus included in the Form F-3. The Form F-3 and the prospectus supplement are available at the SEC website at: http://www.sec.gov. Copies of the prospectus supplement and the accompanying prospectus may be obtained from (1) BofA Securities, Inc., Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, United States of America, or by telephone at +1 (800) 294-1322 or by email at [email protected]; and (2) Haitong International Securities Company Limited, Attention: Equity Capital Markets, 22/F Li Po Chun Chambers, 189 Des Voeux Road Central, Hong Kong, by telephone at +852-2848-4373. The Company plans to use the net proceeds from the ADS Offering mainly for margin financing business, international expansion, new license applications, potential investment and acquisition opportunities, and other general corporate purposes. This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, nor shall there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. This press release contains information about the pending offering of the ADSs, and there can be no assurance that the offering will be completed. About Futu Holdings Limited Futu Holdings Limited (Nasdaq: FUTU) is an advanced technology company transforming the investing experience by offering a fully digitized brokerage and wealth management platform. The Company primarily serves the emerging affluent Chinese population, pursuing a massive opportunity to facilitate a once-in-a-generation shift in the wealth management industry and build a digital gateway into broader financial services. The Company provides investing services through its proprietary digital platform, Futubull, a highly integrated application accessible through any mobile device, tablet or desktop. The Company’s primary fee-generating services include trade execution and margin financing which allow its clients to trade securities, such as stocks, warrants, options, futures and exchange-traded funds, or ETFs, across different markets. Futu enhances the user and client experience with market data and news, research, as well as powerful analytical tools, providing them with a data rich foundation to simplify the investing decision-making process. Futu has also embedded social media tools to create a network centered around its users and provide connectivity to users, investors, companies, analysts, media and key opinion leaders. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Futu’s control. Futu may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Futu’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Futu’s goal and strategies; Futu’s expansion plans; Futu’s future business development, financial condition and results of operations; Futu’s expectations regarding demand for, and market acceptance of, its products and services; Futu’s expectations regarding keeping and strengthening its relationships with third-party partners it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Futu’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Futu does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For investor inquiries, please contact: Investor RelationsFutu Holdings [email protected]
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The post Futu Holdings Ltd (FUTU): Price Up $3.01 (2.27)% Over Past Day, Up $4.85 (3.69)% Over Past Hour appeared first on ETF Daily News.
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