AEHL, FOXX Stocks Surpass Their 200-DMA Levels Today

Antelope Enterprise Holdings touched the long-term indicator for the first time since October 16, while Foxx Development last traded at this level on September 18.

• The surge followed fresh technical breakouts, with AEHL and FOXX both reclaiming their 50-day moving averages for the first time in multiple weeks.
• Antelope Enterprise’s rally today builds on the massive 109% jump on Monday, its biggest ever intraday percentage gain.
• FOXX stock has gained consecutively for the past four sessions.

Shares of Foxx Development Holdings Inc. (FOXX) and Antelope Enterprise Holdings (AEHL) rallied on Tuesday to rise above their 200-day moving averages (200-DMA).

AEHL touched the mark for the first time since October 16, while FOXX last traded at this level on September 18.

The rally comes after fresh technical breakouts, as AEHL touched its 50-day moving average on Monday after a month, while FOXX cleared the mark last Friday for the first time in more than two months.

Antelope Enterprise’s rally builds on the massive 109% jump on Monday, which marked the stock’s biggest ever intraday percentage gain.

AEHL’s Bitcoin Drive

The stock caught investors’ attention in July after the company signed a $50 million securities purchase agreement with Streeterville Capital to buy Bitcoin. AEHL had also mentioned that it would continue exploring broader Web3 and digital finance opportunities. Less than a month later, Antelope partnered with BitGo to purchase Bitcoin and store assets on-chain using multi-signature security.

FOXX’s Q1 Results

Last week, Foxx Development reported quarterly revenues of $20.22 million, down from $23.11 million a year earlier, largely due to weaker mobile phone product sales. However, gross profit improved significantly to $2.74 million from $0.40 million.

While operating losses narrowed to $0.89 million from $1.81 million in the prior year, net loss widened slightly to $2.87 million due to higher interest expenses. Despite this, loss per share narrowed to $0.42 from $0.65 a year ago.

FOXX stock has gained consecutively for the past four sessions, adding over 240%.

How Did Stocktwits Users React?

The rally in these stocks has driven retail chatter on Stocktwits. Retail sentiment for AEHL stock remained in the ‘extremely bullish’ territory for the past 24 hours, amid ‘extremely high’ message volumes.

One user expects the rally to continue till the end of the week.

Retail sentiment surrounding FOXX remained ‘bullish’ for the past 24 hours, accompanied by ‘extremely high’ message volumes. A user expects the stock to rise to $7.

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