Yiren Digital Ltd (YRD): Price Now Near $3.35; Daily Chart Shows Downtrend on 50 Day Basis

The Hourly View for YRD

At the time of this writing, YRD (Get Ratings)’s price is up $0.02 (0.6%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

YRD ranks 187th in terms of today’s price percentage change out of Banking stocks.

YRD’s Technical Outlook on the Daily Chart

Currently, YRD’s price is down $-0.01 (-0.3%) from the day prior. It’s been a feast for bears operating on the daily timeframe, as YRD has now gone down 4 of the past 5 days. As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. Yiren Digital Ltd’s price action over the past 90 days can be seen via the chart below.