The stock of China Natural Resources, Inc. (NASDAQ:CHNR) is now priced at $1.12 and the shares are -0.05 points down or -4.27% lower compared to its previous closing price of $1.17. The stock had 144162 contracts set over the past session. CHNR shares’ daily volume is compared to its average trading volume at 1.042 million shares. However, it has a float of 9.45 million and although its performance was -8.94% over the week, it’s one to watch. CHNR share price recently placing at $1.09 to $1.19. However, some brokerage firms have priced the stock below the average.
The shorts are climbing into the China Natural Resources, Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the CHNR shares have risen. Short interest in the stock represents just 0.08% of its float, but the volume has raised by 6714. The volume of shorted shares rised to 7406 from 692 shares over the last two weeks. The average intraday trading volume has been 4.368 million shares, which means that days to cover moved to roughly 1.
In the last trading session, China Natural Resources, Inc. (NASDAQ:CHNR) dropped by -$0.11 over the week and gained $0.34 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $6.04. The stock recorded its established 52-week high on 06/12/20.
Since 03/06/20, the stock has traded to a low of $0.5796 at 93.22%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.94. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, China Natural Resources, Inc.’s two-week RSI is 48.65. This suggests that the stock is neutral at the moment and that CHNR shares’ price movement remains stable. The stochastic readings are equally revealing at 6.21% meaning the CHNR share price is currently in overbought territory.
The technical chart shows that the CHNR stock will likely settle at between $1.1767 and $1.2333 per share. However, if the stock dips below $1.0767, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.0333.
Currently, the stock is trading in the red of MACD, with a reading of -0.0339. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.