The stock of China Ceramics Co., Ltd. (NASDAQ:CCCL) is now priced at $0.85 and the shares are 0.16 points up or 23.04% higher compared to its previous closing price of $0.69. The stock had 2.712 million contracts set over the past session. CCCL shares’ daily volume is compared to its average trading volume at 1.04 million shares. However, it has a float of 5.21 million and although its performance was 17.9% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the CCCL share price recently placing at $0.68 to $0.7035. However, some brokerage firms have priced the stock below the average, including one that has called $56.
The shorts are climbing into the China Ceramics Co., Ltd. stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the CCCL shares have risen. Short interest in the stock represents just 1.26% of its float, but the volume has raised by 23444. The volume of shorted shares rised to 65428 from 41984 shares over the last two weeks. The average intraday trading volume has been 92583 shares, which means that days to cover moved to roughly 1.
In the last trading session, China Ceramics Co., Ltd. (NASDAQ:CCCL) raised by $0.1289 over the week and gained $0.0991 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $1.77. The stock recorded its established 52-week high on 05/20/20.
Since 03/19/20, the stock has traded to a low of $0.26 at 226.54%, 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 1.64. 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 Ceramics Co., Ltd.’s two-week RSI is 61.89. This suggests that the stock is neutral at the moment and that CCCL shares’ price movement remains stable. The stochastic readings are equally revealing at 24.6% meaning the CCCL share price is currently in overbought territory.
The technical chart shows that the CCCL stock will likely settle at between $1.0327 and $1.2163 per share. However, if the stock dips below $0.6727, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.4963.
Currently, the stock is trading in the red of MACD, with a reading of -0.0145. 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 CCCL stocks P/S ratio currently stands below the group’s average of 55.3. China Ceramics Co., Ltd. has its P/E ratio at 0.2, which means that the stock is currently trading at a discount relative to the 4.5 industry average.