Ever-Glory International Group, Inc. stock trades under the ticker EVK & has recently shown technical strength worth taking a closer look at.
EVK stock closed for trading on 10/22/2020 at $2.60/share, and is up an additional 20% in pre-market trading.
EVK stock does not have options, so for an effective hedge, traders should consider buying long shares or options in an inverse NASDAQ ETF or an inverse retail ETF such as ONLN, EMTY or CLIX, as EVK focuses on retail supply chains (particularly for fashion).
EVK Stock Price: $2.60
10 Day Moving-Average: $1.05
50 Day Moving-Average: $0.99
200 Day Moving-Average: $1.09
RSI: 60
With an RSI of 60, there appears to be more room to run, as EVK is not signaling to be over-bought, and supply chain companies will always be needed, even if there is another COVID-related shutdown.
Ever-Glory International Group, Inc.’s 10 Day Moving-Average just crossed its 50 Day Moving-Average, and is poised to blow through the 200 Day Moving-Average, showing more signs of strength lie ahead.
Based on all the above, there seems to be more opportunity for traders to capitalize on further growth in EVK’s stock for a short-term trade.
I am looking to get into EVK today, but not anticipating holding it very long.
*** I DO NOT OWN SHARES OF EVK STOCK ***