Kweichow Moutai Establishes AiMoutai Digital Technology with $600 Million Focus on Blockchain
- Digital Strategy: Kweichow Moutai has established AiMoutai Digital Technology Co., Ltd. with a registered capital of 600 million RMB, focusing on blockchain and internet services, marking a significant advancement in the company's digital transformation aimed at enhancing its technological service capabilities to adapt to market changes.
- Non-Crypto Market Expansion: While the new company emphasizes the application of blockchain technology, it has not disclosed any plans for cryptocurrency issuance, indicating Moutai's cautious approach in the digital services sector, which may impact its business layout in non-crypto industries.
- Industry Adaptability: This move reflects China's emphasis on blockchain technology, aligning Kweichow Moutai's digital efforts with national policies, potentially promoting adaptability and innovation within traditional industries in the digital economy.
- Market Reaction: Community reactions to AiMoutai have been cautious, with major figures and regulators not directly linking it to crypto assets, indicating the company's focus on digital services rather than crypto markets, which may affect investor confidence.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR) As of , Major (MAJOR) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for MAJOR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, MAJOR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0611 | 0.0687 | 0.0776 | 0.0852 | 0.0941 | 0.102 | 0.111 |
| Fibonacci | 0.0687 | 0.075 | 0.0789 | 0.0852 | 0.0915 | 0.0955 | 0.102 |
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