The stock of FSD Pharma Inc. (NASDAQ:HUGE) is now priced at $3.63 and the shares are -0.63 points down or -14.79% lower compared to its previous closing price of $4.26. The stock had 1.088 million contracts set over the past session. HUGE shares’ daily volume is compared to its average trading volume at 714293 shares. However, it has a float of 0 million and although its performance was -3.71% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the HUGE share price recently placing at $3.57 to $4.05. However, some brokerage firms have priced the stock below the average, including one that has called $10.87.
The shorts are climbing into the FSD Pharma Inc. stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the HUGE shares have risen. Short interest in the stock represents just 0% of its float, but the volume has raised by 2982. The volume of shorted shares rised to 6210 from 3228 shares over the last two weeks. The average intraday trading volume has been 76676 shares, which means that days to cover moved to roughly 1.
In the last trading session, FSD Pharma Inc. (NASDAQ:HUGE) dropped by -$0.14 over the week and lost -$0.13 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $32.06. The stock recorded its established 52-week high on 08/14/19.
Since 03/18/20, the stock has traded to a low of $2.39 at 51.88%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, FSD Pharma Inc.’s two-week RSI is 35.43. This suggests that the stock is neutral at the moment and that HUGE shares’ price movement remains stable. The stochastic readings are equally revealing at 19.75% meaning the HUGE share price is currently in overbought territory.
The technical chart shows that the HUGE stock will likely settle at between $3.93 and $4.23 per share. However, if the stock dips below $3.45, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $3.27.
Currently, the stock is trading in the green of MACD, with a reading of 0.03. 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 HUGE stock price is 0X ahead of its 12-month Consensus earnings per share estimates.