OneConnect Financial Technology Co., Ltd. (OCFT) shares gained 10.13% today (2020-01-07). Is it the right time to buy?

What’s happening at OneConnect Financial Technology Co., Ltd. (NYSE:OCFT)? What made the stock one of the top performing stock today? The company is indeed among the top gainers of the stock market, skyrocketing 10.13% (or 1.10 points) to $11.96 from its previous close of $10.86. So is it the right moment to buy?

The shares had an increased trading volume of 1,082,211 contracts this session compared to the average daily volume of last 10 days of 218,900 contracts and they had an increased trading volume compared to the average daily volume of last 3 months of 809,380 contracts.

The indicator of a company’s profitability, the earnings per share ratio is -. This value shows how much money a company makes for each share of its stock. A higher EPS indicates more value because investors will pay more for a company with higher profits. This is negative and tells you exactly how much money the company lost per share of its 61.5M outstanding stocks.

The closing market price for this trading session was 26.83% over 52 weeks minimum price of $9.43 and 6.64% under 52 weeks maximum price of $12.81. Also the price is 19.11% greater than 200 day average of $10.04 and 19.11% greater than 50 day average of $10.04.

At post-market close the stock price was $11.70, thus decreasing -2.17% (or -0.26 points) with respect to regular market close.

Looking at the trading signals for OneConnect Financial Technology Co., Ltd. over last 6 months of daily time series of prices, the two-week relative strength index (RSI), a momentum indicator that measures the size of recent changes of price to evaluate overbought or oversold conditions, stands at 86.98. According to standard usage, it’s value greater than 70 indicates that OCFT is becoming overbought or overvalued and may be preparing for a trend reversal or corrective pullback in price. The stochastic oscillator reading, another momentum indicator of overbought and oversold conditions, stands at 74.85. According to standard usage, it’s value between 20 and 80 suggests that shares are stable in terms of price movement. But let’s keep in mind that even stochastic readings very close to thresholds are not indicative of imminent reversal. In fact very strong trends can maintain overbought or oversold conditions for an extended period, but changes in the stochastic oscillator might suggest future trend shifts.

Latest news that might have contributed to the great perfomance of OCFT today are:

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