The stock of CohBar, Inc. (NASDAQ:CWBR) is now priced at $0.94 and the shares are 0.07 points up or 8% higher compared to its previous closing price of $0.87. The stock had 1.875 million contracts set over the past session. CWBR shares’ daily volume is compared to its average trading volume at 0.487 million shares. However, it has a float of 31.62 million and although its performance was -33.1% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the CWBR share price recently placing at $0.88 to $0.95. However, some brokerage firms have priced the stock below the average.
The shorts are climbing into the CohBar, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the CWBR shares have risen. Short interest in the stock represents just 1.58% of its float, but the volume has raised by 27828. The volume of shorted shares rised to 498957 from 471129 shares over the last two weeks. The average intraday trading volume has been 567423 shares, which means that days to cover moved to roughly 1.
In the last trading session, CohBar, Inc. (NASDAQ:CWBR) dropped by -$0.4634 over the week and lost -$0.5534 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $4.25. The stock recorded its established 52-week high on 05/06/20.
Since 08/27/20, the stock has traded to a low of $0.85 at 10.19%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.38. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, CohBar, Inc.’s two-week RSI is 31.36. This suggests that the stock is neutral at the moment and that CWBR shares’ price movement remains stable. The stochastic readings are equally revealing at 4.46% meaning the CWBR share price is currently in overbought territory.
The technical chart shows that the CWBR stock will likely settle at between $0.9644 and $0.9922 per share. However, if the stock dips below $0.8944, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.8522.
Currently, the stock is trading in the red of MACD, with a reading of -0.3192. 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.