Tian Ruixiang Holdings Ltd. (NASDAQ:TIRX) stock is pulling back Friday after a sharp, headline-driven surge earlier in the week, sparked by news of an $80 million strategic MOU with SwiftStart Inc.

The stock more than doubled on Wednesday as traders rushed into the announcement, but Friday’s decline suggests momentum is cooling as investors reassess the deal’s non-binding nature and the absence of an immediate capital injection.

The pullback comes amid mixed broader market conditions, with the S&P 500 down 0.27% and the Nasdaq slipping 0.59%, and as TIRX faces a Nasdaq delisting determination tied to its failure to maintain the $1 minimum bid price.

Under the MOU, SwiftStart has proposed an $80 million equity investment at $1.50 per share and outlined potential collaboration across digital transformation, risk management systems, and other strategic initiatives, with both companies pointing to TIRX’s positioning and growth potential.

TIRX’s Significant Price Weakness

Currently, TIRX is trading 80.7% below its 20-day simple moving average (SMA) and 91.9% below its 100-day SMA, indicating significant weakness in the stock’s price action. Over the past 12 months, shares have decreased by 98.94% and are positioned closer to their 52-week lows than highs.

The RSI is at 41.58, which is considered neutral territory, while the MACD is above its signal line, indicating a potential bullish signal. The combination of neutral RSI and bullish MACD suggests mixed momentum for the stock.

• Key Resistance: $0.50
• Key Support: $0.09

TIRX Price Action: Tian Ruixiang Holdings shares were down 23.64% at $0.09 at the time of publication on Friday. The stock is trading at a new 52-week low, according to Benzinga Pro data.

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