The stock of Color Star Technology Co., Ltd. (NASDAQ:HHT) is now priced at $1.46 and the shares are -0.08 points down or -5.19% lower compared to its previous closing price of $1.54. The stock had 1.589 million contracts set over the past session. HHT shares’ daily volume is compared to its average trading volume at 4.328 million shares. However, it has a float of 5 million and although its performance was -16.09% over the week, it’s one to watch. The stock’s downside potential is -100% with the HHT share price recently placing at $1.4 to $1.5011. However, some brokerage firms have priced the stock below the average, including one that has called $120.
The shorts are climbing into the Color Star Technology Co., Ltd. stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the HHT shares have risen. Short interest in the stock represents just 19.82% of its float, but the volume has raised by 11400. The volume of shorted shares rised to 1.002 million from 990287 shares over the last two weeks. The average intraday trading volume has been 5.658 million shares, which means that days to cover moved to roughly 1.
In the last trading session, Color Star Technology Co., Ltd. (NASDAQ:HHT) dropped by -$0.28 over the week and gained $0.71 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $4.3109. The stock recorded its established 52-week high on 07/25/19.
Since 06/04/20, the stock has traded to a low of $0.3113 at 369%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Color Star Technology Co., Ltd.’s two-week RSI is 65.05. This suggests that the stock is neutral at the moment and that HHT shares’ price movement remains stable. The stochastic readings are equally revealing at 58.11% meaning the HHT share price is currently in neutral territory.
The technical chart shows that the HHT stock will likely settle at between $1.5074 and $1.5548 per share. However, if the stock dips below $1.4063, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.3526.
Currently, the stock is trading in the green of MACD, with a reading of 0.0211. 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.
Elsewhere, the HHT stocks P/S ratio currently stands below the group’s average of 25.1. Color Star Technology Co., Ltd. has its P/E ratio at 0, which means that the stock is currently trading at a discount relative to the 1.9 industry average.