The stock of Landcadia Holdings II, Inc. (NASDAQ:LCA) is now priced at $15.29 and the shares are -0.17 points down or -1.1% lower compared to its previous closing price of $15.46. The stock had 2.103 million contracts set over the past session. LCA shares’ daily volume is compared to its average trading volume at 2.846 million shares. However, it has a float of 1.46 million and although its performance was 5.45% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the LCA share price recently placing at $15.05 to $15.99. However, some brokerage firms have priced the stock below the average.
The shorts are climbing into the Landcadia Holdings II, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the LCA shares have risen. Short interest in the stock represents just 71.38% of its float, but the volume has raised by 550423. The volume of shorted shares rised to 1.041 million from 490514 shares over the last two weeks. The average intraday trading volume has been 1.916 million shares, which means that days to cover moved to roughly 1.
In the last trading session, Landcadia Holdings II, Inc. (NASDAQ:LCA) raised by $0.79 over the week and gained $3.79 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $17. The stock recorded its established 52-week high on 06/30/20.
Since 03/12/20, the stock has traded to a low of $8.82 at 73.42%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Landcadia Holdings II, Inc.’s two-week RSI is 60.81. This suggests that the stock is neutral at the moment and that LCA shares’ price movement remains stable. The stochastic readings are equally revealing at 74.34% meaning the LCA share price is currently in oversold territory.
The technical chart shows that the LCA stock will likely settle at between $15.84 and $16.38 per share. However, if the stock dips below $14.9, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $14.5.
Currently, the stock is trading in the green of MACD, with a reading of 0.47. 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.