Why Are Linkers Industries Shares Falling On Friday?

Linkers Industries Ltd (NASDAQ:LNKS) shares are falling on Friday. The stock traded around 85 cents following a massive 51.36% jump during Thursday’s session.

Investors appear to be locking in profits after the stock closed Thursday at 88 cents.

• Linkers Industries stock is feeling bearish pressure. What’s behind LNKS decline?

SEC Filing Details Unit Offering

The price action follows a Form F-1 registration statement filed on Monday. Linkers Industries is offering up to 18.25 million ordinary units at approximately $0.9864 per unit.

Strategic Expansion in Southeast Asia

The company operates through its subsidiary, TEM Electronics in Malaysia. It recently expanded its footprint by acquiring 20% of LPW Electronics Co. in Thailand. This associated company owns a 6,500-square-meter production facility. Linkers plans to use the offering proceeds to potentially acquire further equity interests in LPW.

Technical Analysis

Linkers is trading 24.6% below its 20-day simple moving average (SMA), but 26.5% above its 100-day SMA, which signals short-term weakness while the intermediate trend remains intact.

Shares are up 21.95% over the past 12 months, and at current levels they're positioned closer to the 52-week low of 27 cents than the 52-week high of $1.68.

The RSI is at 47.10, which sits in neutral territory. Meanwhile, MACD is at -0.0537 versus a signal line at 0.0071.

• Key Resistance: $1
• Key Support: 50 cents

LNKS Stock Price Activity: Linkers Industries shares were down 4.51% at 84 cents at publication on Friday, according to Benzinga Pro data.