LLL stock has surged more than 53% in morning trade on March 22, 2022, after the company announced a HUGE $60 million sales agreement which is more than 500% of 2020 sales revenue.
JX Luxventure Signs Blockbuster USD60,000,000 (5X 2020 Revenue) Sales Agreement
On March 22, 2022, JX Luxventure Limited (Nasdaq: LLL), a service provider delivering comprehensive solutions to global elite families with business segments covering menswear, cross-border merchandise, airfare and tourism, announced today that, on March 21, 2022, Jin Xuan Luxury Tourism (Hainan) Digital Technology Co., Ltd. (“JX Hainan”), a subsidiary of the Company, entered into and executed a Framework Agreement on Strategic Cooperation (the “Agreement”) with Chongqing E-Pet Technology Co., Ltd. (“Chongqing E-Pet”), one of the major operators of online cross-border pet food shopping platform in China. Pursuant to the Agreement, Chongqing E-Pet will purchase from JX Hainan cross-border pet foods in the amount up to USD60,000,000 to be distributed on the platforms operated by Chongqing E-Pet.
Ms. Sun “Ice” Lei, Chief Executive Officer of the Company commented: “This cooperation shows the ever-growing demand for the cross-border pet foods in China and opens a new category of cross border goods for JX Luxventure. After a stellar year of revenue growth of 2021, this agreement puts JX Luxventure on pace to have another one for 2022.”
Luxventure enters strategic cooperation framework agreement with Aikayun
JX Luxventure announced that, on March 10, 2022, Jin Xuan Luxury Tourism Digital Technology, a subsidiary of the Company, entered into and executed a Strategic Cooperation Framework Agreement on Cross-border Supply Chain of Duty Free Merchandize with Aikayun Technology. Pursuant to the Agreement, JX Hainan was granted an exclusive right to distribute cross-border products from Japan in the Hainan Island in the amount up to RMB1,000,000,000. In addition, the Company plans to enter into the Metaverse by offering Non-fungible Token based projects, which will be lead by its Chief Technology Officer.
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📈 LLL Stock Technical Analysis
The short term is neutral, but the long term trend is still positive. Volume is considerably higher in the last couple of days, which is what you like to see during a strong move-up. LLL is currently trading in the middle of its 52-week range. This is in line with the S&P500 Index, which is also trading in the middle of its range. Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
There is support at 2.13 from a horizontal line in the daily time frame. There is also support at 2.07 from a trend line in the daily time frame. There is another support zone ranging from 1.91 to 1.93. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames. Finally, there is a support zone ranging from 1.81 to 1.83. This zone is formed by a combination of multiple trend lines in multiple time frames.
The technical rating of LLL is bad and it also does not present a quality setup at the moment. LLL stock has a Setup Rating of 3 out of 10. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to sign up for email alerts on when LLL stock consolidates and has a Setup Rating of 8 or higher.