The stock of Digital Ally, Inc. (NASDAQ:DGLY) is now priced at $2.25 and the shares are -0.07 points down or -3.02% lower compared to its previous closing price of $2.32. The stock had 1.421 million contracts set over the past session. DGLY shares’ daily volume is compared to its average trading volume at 9.849 million shares. However, it has a float of 22.97 million and although its performance was 7.14% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the DGLY share price recently placing at $2.22 to $2.43. However, some brokerage firms have priced the stock below the average, including one that has called $5.

The shorts are running away from the Digital Ally, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the DGLY shares have declined. Short interest in the stock represents just 10.58% of its float, but the volume has dropped by -116725. The volume of shorted shares dropped to 2.432 million from 2.548 million shares over the last two weeks. The average intraday trading volume has been 1.195 million shares, which means that days to cover moved to roughly 2.034932.

In the last trading session, Digital Ally, Inc. (NASDAQ:DGLY) raised by $0.15 over the week and lost -$1 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $7.1. The stock recorded its established 52-week high on 06/09/20.

Since 03/18/20, the stock has traded to a low of $0.64 at 251.54%, 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 0.66. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.

Looking at current readings, Digital Ally, Inc.’s two-week RSI is 40.67. This suggests that the stock is neutral at the moment and that DGLY shares’ price movement remains stable. The stochastic readings are equally revealing at 35.7% meaning the DGLY share price is currently in neutral territory.

The technical chart shows that the DGLY stock will likely settle at between $2.38 and $2.51 per share. However, if the stock dips below $2.17, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $2.09.

Currently, the stock is trading in the green of MACD, with a reading of 0.21. 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.

Analysts at Maxim Group assigned DGLY a rating of Buy in their intiating review released on June 29. Maxim Group analysts see the stock as a Buy, but they also dropped the share’s target price from $9 to $4 in a flash note released to investors on November 15. Maxim Group analysts see the stock as Buy when the analysts initiated the share price coverage on August 18, placing it at $15.

The average rating for the DGLY equity is 2 and is currently gathering a bullish momentum. Of 1 analysts tracking Digital Ally, Inc. polled by Reuters, 0 rated DGLY as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.