Dragon Victory International LTD. stock trades under the ticker LYL & has recently displayed strong technical performance.
LYL stock closed for trading at $3.2499/share on 10/21/2020.
For the last week they have been trending heavily upwards, with a bit of a pullback yesterday (-8%), and they may go down a bit more today as NASDAQ futures are pointing to a down day (-0.42% as of my writing this at 6:15 am).
LYL does not have options, so a hedge may be an inverse micro-cap ETF, such as RWM, TWM, or TZA (through common shares, or call options, as depending on the Greeks there may be a better deal).
LYL Stock Price: $3.24
10 Day Moving-Average: $1.38
50 Day Moving-Average: $1.15
200 Day Moving-Average: $1.14
RSI: 81
Overall, LYL looks to have some strength still that can be capitalized on, as long as traders are cognizant of the hedge opportunities that are available to them.
Otherwise, I would be eyeing their charts to find the best entry point for a short-term LYL stock trade.
*** I DO NOT OWN SHARES OF LYL STOCK ***