The stock of Medigus Ltd. (NASDAQ:MDGS) is now priced at $1.48 and the shares are 0.11 points up or 8.03% higher compared to its previous closing price of $1.37. The stock had 30.86 million contracts set over the past session. MDGS shares’ daily volume is compared to its average trading volume at 0.914 million shares. However, it has a float of 2.41 million and although its performance was 2.07% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the MDGS share price recently placing at $1.37 to $1.97. However, some brokerage firms have priced the stock below the average, including one that has called $158.61.
The shorts are running away from the Medigus Ltd. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the MDGS shares have declined. Short interest in the stock represents just 2.69% of its float, but the volume has dropped by -90651. The volume of shorted shares dropped to 64704 from 155355 shares over the last two weeks. The average intraday trading volume has been 167400 shares, which means that days to cover moved to roughly 1.
In the last trading session, Medigus Ltd. (NASDAQ:MDGS) raised by $0.03 over the week and lost -$0.12 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $5.15. The stock recorded its established 52-week high on 05/01/20.
Since 03/18/20, the stock has traded to a low of $0.83 at 78.31%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Medigus Ltd.’s two-week RSI is 45.67. This suggests that the stock is neutral at the moment and that MDGS shares’ price movement remains stable. The stochastic readings are equally revealing at 32.02% meaning the MDGS share price is currently in neutral territory.
The technical chart shows that the MDGS stock will likely settle at between $1.8433 and $2.2067 per share. However, if the stock dips below $1.2433, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.0067.
Currently, the stock is trading in the red of MACD, with a reading of -0.0267. 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 46.1. Medigus Ltd. has its P/E ratio at 1.7, which means that the stock is currently trading at a discount relative to the 4.9 industry average.