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US Technical Analysis Report

One NASDAQ– Listed Consumer Lending Stock Poised for Upside as Russell 3000 Edged Higher– LX

Oct 18, 2024

LX:NASDAQ
Investment Type
Small-Cap
Risk Level
Action
Rec. Price (US$)

Company Overview:  Lexinfintech Holdings Ltd (NASDAQ: LX) is a company principally engaged in the provision of consumer finance technology services. The Company's main business is to apply technologies including AI and big data to form an online risk assessment and management system based on quantitative decision-making. This Report covers the Price Action, Technical Indicators Analysis along with the Target Levels, Stop Loss, Support Levels, Resistance Levels, and Recommendation on stock.

US Markets Round-Up

This week, the Russell 3000 index, an important benchmark of the US stock market across market capitalizations, started the week on a positive note and continued the momentum. The index made high of 3352.305 during the week and settled at 3332.458 with a week-to-date (WTD) gain of ~0.58 percent on Oct 17, 2024. Other major indices, such as S&P 500 and NASDAQ Composite displayed upside move for the week. On Oct 17, 2024, the S&P 500 index settled at 5841.47 with a WTD gain of ~0.31 percent, while the NASDAQ Composite Index settled at 18373.609 with a WTD gain of ~0.167 percent.  

Having understood the US market performance over the week, taking cues from major global news, and based on technical analysis of the Russell 3000 index for the upcoming week, now let’s have a look at the one US-listed stock to pick from the technical standpoint. Noted below recommendation is based on the entry price, target prices, and stop-loss for Lexinfintech Holdings Ltd (NASDAQ: LX) for the next 2-4 weeks duration: 

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Disclaimer-

Kalkine Equities LLC, with Delaware File Number 4697384, Foreign Qualification Registration in California File Number 202109211078, and Texas File Number 805521396, is authorized to provide general advice only. The information on https://kalkine.com/ does not take into account any of your investment objectives, financial situation or needs. You should consider the appropriateness of advice taking into account your own objectives, financial situation and needs and seek independent financial advice before making any financial decisions. The link to our Terms and Conditions  and Privacy Policy has been provided for your reference. On the date of publishing the reports (mentioned on the website), employees and/or associates of Kalkine do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations later.

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