The stock of China Liberal Education Holdings Limited (NASDAQ:CLEU) is now priced at $6.35 and the shares are 0.06 points up or 0.95% higher compared to its previous closing price of $6.29. The stock had 2.921 million contracts set over the past session. CLEU shares’ daily volume is compared to its average trading volume at 131039 shares. However, it has a float of 2.71 million and although its performance was 39.56% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the CLEU share price recently placing at $5.82 to $10.46. However, some brokerage firms have priced the stock below the average.
The shorts are running away from the China Liberal Education Holdings Limited stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the CLEU shares have declined. Short interest in the stock represents just 0.1% of its float, but the volume has dropped by -1006. The volume of shorted shares dropped to 2836 from 3842 shares over the last two weeks. The average intraday trading volume has been 27356 shares, which means that days to cover moved to roughly 1.
Looking at current readings, China Liberal Education Holdings Limited’s two-week RSI is 75.49. This suggests that the stock is oversold at the moment and that CLEU shares’ price movement remains not stable. The stochastic readings are equally revealing at 72.7% meaning the CLEU share price is currently in oversold territory.
The technical chart shows that the CLEU stock will likely settle at between $9.27 and $12.18 per share. However, if the stock dips below $4.63, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $2.9.
Currently, the stock is trading in the green of MACD, with a reading of 0.99. 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.