Is This iFresh Inc. (IFMK)’s Unjustifiable Rally?

iFresh Inc., which has current market capitalization of above $33 Million, published its last quarter earnings on March 31, 2019.

IFMK surged by $0.45 during the normal trading session on Monday and reaching a high of $3.05 during the day while it closed the day at $2.18. The iFresh stock had a low trading volume of 0.73 million shares on that day, which is low compared to the average daily volume of 208.60M shares. IFMK has also gained 32.12% of its value over the past 7 days. However, the stock has surged by 114.78% in the 3 months of the year. Over the past six months meanwhile, it has gained 128.51% while it has added 150.20% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -28.52% from its 3 months high price. However, taking another look at IFMK will indicate that it is trading +140.88% away from its 90-day low. Looking at the bigger picture, the iFresh Inc. stock has dropped by -45.5% from its 52-week high while it has surged by +172.5% from its 52-week low price.

On May 01, 2019 Walder Jay, Director sold 3000 shares of the company. The average price for that transaction was $1.02 per share, which meant that Walder Jay earned $3060 selling the stocks. The sale was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with Director, Walder Jay selling 1000 shares of this stock on April 09, 2019. The average selling price for the stock was $1.22 per share, with the sold stock accruing $1220. Following this transaction, the Director Walder Jay now holds 4000 shares of the company, which is worth around $10400.

iFresh has around 1 Billion cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $41 Billion. The iFresh stock is bringing in revenue of over 12 months, which is roughly 30 Billion. Despite all that, iFresh Inc. is seeing things progressing very much as their y-o-y quarterly revenue surged by 8.98%.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 59.44%. This figure is better than the company’s 20-day Raw Stochastic average which currently stands at 41.81%. Over the past 20 days, iFresh’s Stochastic %K stood at 71.46% while its Stochastic %D was revealed to be 81.03%.