Sponsored Content - JOYY Inc. (YY) is a leading Chinese social media platform that engages users in real-time online group activities through voice, video, and text, says Nick Santiago, president, CEO, and chief market strategist at InTheMoneyStocks.com.
Traders and investors should note that this stock peaked out on February 16, 2021, at $147.78 a share. Since that top, the stock has plunged lower and is currently trading at $89.57 a share. On Tuesday, the stock broke below its 200-day moving average signaling further weakness on the charts.
The next major support level for JOYY Inc. (YY) stock will be around the $80.00 area. This level is where the stock was defended in late December 2020 before rallying to new all-time highs. Often, prior support levels will serve as excellent support when retested. This support area is also near a major retrace area adding strength to the level.
Learn more about Nick Santiago at InTheMoneyStocks.com.