The stock of Hudson Capital Inc. (NASDAQ:HUSN) is now priced at $0.44 and the shares are 0 points down or 0.55% lower compared to its previous closing price of $0.44. The stock had 4.27 million contracts set over the past session. HUSN shares’ daily volume is compared to its average trading volume at 1.86 million shares. However, it has a float of 17.48 million and although its performance was -11.16% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the HUSN share price recently placing at $0.4022 to $0.44. However, some brokerage firms have priced the stock below the average.
The shorts are climbing into the Hudson Capital Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the HUSN shares have risen. Short interest in the stock represents just 1.17% of its float, but the volume has raised by 46322. The volume of shorted shares rised to 204198 from 157876 shares over the last two weeks. The average intraday trading volume has been 521325 shares, which means that days to cover moved to roughly 1.
In the last trading session, Hudson Capital Inc. (NASDAQ:HUSN) dropped by -$0.0553 over the week and lost -$0.176 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $2.15. The stock recorded its established 52-week high on 09/11/19.
Since 03/24/20, the stock has traded to a low of $0.32 at 37.5%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Hudson Capital Inc.’s two-week RSI is 35.82. This suggests that the stock is neutral at the moment and that HUSN shares’ price movement remains stable. The stochastic readings are equally revealing at 9.76% meaning the HUSN share price is currently in overbought territory.
The technical chart shows that the HUSN stock will likely settle at between $0.4526 and $0.4652 per share. However, if the stock dips below $0.4148, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.3896.
Currently, the stock is trading in the red of MACD, with a reading of -0.0547. 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.
The stocks P/S ratio currently stands below the group’s average of 14.7. Hudson Capital Inc. has its P/E ratio at 5, which means that the stock is currently trading at a premium relative to the 1.5 industry average.