The stock of Foresight Autonomous Holdings Ltd. (NASDAQ:FRSX) is now priced at $1.04 and the shares are -0.01 points down or -0.95% lower compared to its previous closing price of $1.05. The stock had 1.05 million contracts set over the past session. FRSX shares’ daily volume is compared to its average trading volume at 4.997 million shares. However, it has a float of 23.04 million and although its performance was 4% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the FRSX share price recently placing at $1 to $1.08. However, some brokerage firms have priced the stock below the average, including one that has called $2.5.
The shorts are running away from the Foresight Autonomous Holdings Ltd. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the FRSX shares have declined. Short interest in the stock represents just 0.6% of its float, but the volume has dropped by -177963. The volume of shorted shares dropped to 138941 from 316904 shares over the last two weeks. The average intraday trading volume has been 1.638 million shares, which means that days to cover moved to roughly 1.
In the last trading session, Foresight Autonomous Holdings Ltd. (NASDAQ:FRSX) raised by $0.04 over the week and lost -$0.45 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $1.95. The stock recorded its established 52-week high on 06/05/20.
Since 03/24/20, the stock has traded to a low of $0.461 at 125.6%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Foresight Autonomous Holdings Ltd.’s two-week RSI is 35.58. This suggests that the stock is neutral at the moment and that FRSX shares’ price movement remains stable. The stochastic readings are equally revealing at 19.73% meaning the FRSX share price is currently in overbought territory.
The technical chart shows that the FRSX stock will likely settle at between $1.08 and $1.12 per share. However, if the stock dips below $1, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.96.
Currently, the stock is trading in the red of MACD, with a reading of -0.0411. 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 FRSX a rating of Speculative Buy in their intiating review released on March 02.
The average rating for the FRSX equity is 2 and is currently gathering a bullish momentum. Of 1 analysts tracking Foresight Autonomous Holdings Ltd. polled by Reuters, 0 rated FRSX 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.