Hello, Aoshenstock subscribers!
Today, we are again referring Ionix Technology, Inc. (ticker symbol: IINX), which was able to remain resilient in the market bleeding of the fourth quarter. Its share price traded at $2.17 in early October and ended at $2.08 at the end of the year, a decline of only 4% while the S& P 500 index fell 14.3% during that period. We believe that IINX's good resilience is mainly supported by its industry leadership, financial growth and future main board listing plans.
Therefore, once the market turns positive or the company announces good news, the share price of IINX is expected to get boost by the influx of buying orders.Virtually, the market begins to rise at the beginning of 2019, IINX also announced the significant changes in its board of directors today, that Mr. Bailiang Yang is appointed as the chairman of board of directors, Mr. Jialin Liang and Ms. Xuemei Jiang are appointed as directors. The newly appointed chairman Mr. Yang, is one of the founders of TFT liquid crystal display technology in China, as well as an expert and pioneer in photoelectronic display and smart energy fields. The affiliation of Mr. Yang would help IINX further consolidate its leadership in the field of photoelectronic display, increase the the competitive advantage of the company, explore new market opportunities and create tremendous value for shareholders. As a result, the company expects a leap forward in 2019 with the addition of the new members of board of directors. Looking back at the operation results of last December, according to the IINX’s reports, the revenue of three-month ended September 30, 2018 was $2,568,888, the revenue generated from the same period of previous year was $381,541, and there is a compared increase percentage of 573.In the same period, net profit was $177,153, compared with a net loss of $10,204 in the same period of previous year. We believe that with the addition of new blood to the board of directors, both the company's revenue and earnings are expected to further increase. With this expectation, we believe that IINX shares will likely end the current consolidation stalemate and achieve a breakthrough in the rally. From the weekly chart, the stock price of IINX did not suffer a vicious crackdown during the sell-off at the end of last year. While it is currently consolidation around 2.0, the trading volume is very large, indicating that the buying orders are absorbing a lot of chips around the nearby level. Once IINX releases good news IINX, buyers will dominant,and the stock price will be expected to achieve a breakthrough.Upper resistance focuses at the level of 2.5 and support at the previous low of 1.75.
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