The stock of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) is now priced at $1.86 and the shares are -0.06 points down or -3.12% lower compared to its previous closing price of $1.92. The stock had 3.496 million contracts set over the past session. ADIL shares’ daily volume is compared to its average trading volume at 0.948 million shares. However, it has a float of 8.39 million and although its performance was 15.53% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the ADIL share price recently placing at $1.66 to $2.02. However, some brokerage firms have priced the stock below the average, including one that has called $5.
The shorts are climbing into the Adial Pharmaceuticals, Inc. stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the ADIL shares have risen. Short interest in the stock represents just 0.97% of its float, but the volume has raised by 23662. The volume of shorted shares rised to 81409 from 57747 shares over the last two weeks. The average intraday trading volume has been 403424 shares, which means that days to cover moved to roughly 1.
In the last trading session, Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) raised by $0.25 over the week and gained $0.44 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $3.17. The stock recorded its established 52-week high on 12/16/19.
Since 03/18/20, the stock has traded to a low of $1 at 86%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Adial Pharmaceuticals, Inc.’s two-week RSI is 62.98. This suggests that the stock is neutral at the moment and that ADIL shares’ price movement remains stable. The stochastic readings are equally revealing at 42.86% meaning the ADIL share price is currently in neutral territory.
The technical chart shows that the ADIL stock will likely settle at between $2.0333 and $2.2067 per share. However, if the stock dips below $1.6733, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.4867.
Currently, the stock is trading in the green of MACD, with a reading of 0.0922. 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.
Analysts at Maxim Group assigned ADIL a rating of Buy in their intiating review released on October 30. Dawson James analysts see the stock as a Buy in a flash note released to investors on October 11 initiating covering the stock.
The average rating for the ADIL equity is 2 and is currently gathering a bullish momentum. Of 1 analysts tracking Adial Pharmaceuticals, Inc. polled by Reuters, 0 rated ADIL as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.