AGBA Group Holding Ltd AGBA shares are trading higher Tuesday after the company highlighted plans for its merger with Triller.

The Details

Agba offered more details regarding the merger Tuesday and said the combined company will focus on three areas of execution: scaling up to leverage fast-emerging opportunities, developing monetization capabilities through advanced technologies and marketing strategies and identifying and executing strategic acquisitions and partnerships. 

The previously announced merger will result in a combined company valued at approximately $4 billion and Triller will be a wholly-owned subsidiary of Agba. 

Agba shares are moving on heavy trading volume Tuesday with more than 77 million shares already traded in the session. According to data from Benzinga Pro, the stock has a 100-day average volume of 9.192 million shares.

Related News: What’s Going On With Rivian Automotive Stock?

A Look At AGBA Stock In 2024

Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of valuation and forecasting. But many in trading turn to technical analysis as a way to form predictive models for share price trajectory.

Some investors look to trends to help forecast where they believe a stock could trade at a certain point in the future.

Looking at Agba Group Holding, an investor could make an assessment about a stock's long-term prospects using a moving average and trend line. If they believe a stock will remain above the moving average, which many believe is a bullish signal, they can extrapolate that trend into the future using a trend line. For Agba Group Holding, the 200-day moving average sits at $0.63, according to Benzinga Pro, which is below the current price of $3.37. For more on charts and trend lines, see a description here.

Traders believe that when a stock is above its moving average, it is a generally bullish signal, and when it crosses below, it is a more negative signal. Investors could use trend lines to make an educated guess about where a stock could trade at a later date if conditions remain stable.

AGBA Price Action: According to Benzinga Pro, Agba Group Holding shares were up 20.43% at $2.83 at market close Tuesday.

Image: Shutterstock