Yiren Digital (NYSE:YRD) has gained 15% at the time of writing on high volume (over 6 x the 50 day average). The chart has bounced off support around $3 and is now picking up momentum. The price tested $4 within the day after a low of $3.16 in the morning. If volume keeps up, the 50DMA at $4.17 would be our watch for a break to continue higher, towards $5.
Yiren Digital Ltd. is a leading fintech company in China, providing both credit and wealth management services. For its credit business, the Company provides an effective solution to address largely underserved investor and individual borrower demand in China through online and offline channels to efficiently match borrowers with investors and execute loan transactions.