Kaixin Holdings (KXIN) shares fell 5.08% in Tuesday's premarket session, piling onto losses from Monday's regular trading close. Not exactly the start to the week investors were hoping for.

The premarket decline came as major indices showed mixed performance Monday. The S&P 500 gained 0.54% and the Nasdaq-100 rose 0.73%, while the S&P 500 Energy Sector declined 1.98%.

About Kaixin Holdings

Kaixin operates as China's leading new auto retail platform, specializing in luxury used cars and imported new cars. But the company isn't just flipping fancy vehicles. It's actively engaged in research and development, design, manufacturing, and sales of electric vehicles while promoting innovation in next-generation autonomous driving and artificial intelligence technologies.

Revenue comes from sales of used cars, plus fees earned as a channel partner for third-party auto financing and other value-added service providers.

Technical Picture Looks Rough

Currently, Kaixin is trading 87.8% below its 20-day simple moving average and 93% below its 100-day SMA. That's a significant bearish trend, to put it mildly. Over the past 12 months, shares have decreased by 97.02%, positioning the stock much closer to its 52-week low of $1.08 than its high of $55.50. It's been a challenging year for the company, that's for sure.

The RSI sits at 28.76, suggesting oversold territory and potentially setting up for a rebound. Meanwhile, the MACD is below its signal line, reinforcing bearish sentiment. The combination of an oversold RSI and bearish MACD suggests mixed momentum—the stock may be oversold, but the overall trend remains negative.

• Key Resistance: $1.50
• Key Support: $1.00

Price Action: Kaixin Holdings shares were down 5.04% at $1.12 during premarket trading on Tuesday.