The stock of BigCommerce Holdings, Inc. (NASDAQ:BIGC) is now priced at $130.98 and the shares are -10.02 points down or -7.11% lower compared to its previous closing price of $141. The stock had 5.791 million contracts set over the past session. BIGC shares’ daily volume is compared to its average trading volume at 5.484 million shares. However, it has a float of 29.32 million and although its performance was 72.12% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the BIGC share price recently placing at $129.25 to $146.75. However, some brokerage firms have priced the stock below the average.
The shorts are climbing into the BigCommerce Holdings, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the BIGC shares have risen. Short interest in the stock represents just 3.05% of its float, but the volume has raised by 895632. The volume of shorted shares rised to 895632 from shares over the last two weeks. The average intraday trading volume has been 2.992 million shares, which means that days to cover moved to roughly 1.
Looking at current readings, BigCommerce Holdings, Inc.’s two-week RSI is 0. This suggests that the stock is overbought at the moment and that BIGC shares’ price movement remains not stable. The stochastic readings are equally revealing at 77.19% meaning the BIGC share price is currently in oversold territory.
The technical chart shows that the BIGC stock will likely settle at between $142.07 and $153.16 per share. However, if the stock dips below $124.57, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $118.16.
Currently, the stock is trading in the green of MACD, with a reading of 40.43. 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.