The stock of FSD Pharma Inc. (NASDAQ:HUGE) is now priced at $3.18 and the shares are -0.06 points down or -1.85% lower compared to its previous closing price of $3.24. The stock had 4.094 million contracts set over the past session. HUGE shares’ daily volume is compared to its average trading volume at 0.954 million shares. However, it has a float of 9.92 million and although its performance was 10.03% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the HUGE share price recently placing at $2.93 to $3.53. However, some brokerage firms have priced the stock below the average, including one that has called $8.36.
The shorts are climbing into the FSD Pharma Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the HUGE shares have risen. Short interest in the stock represents just 1.14% of its float, but the volume has raised by 110795. The volume of shorted shares rised to 112889 from 2094 shares over the last two weeks. The average intraday trading volume has been 317566 shares, which means that days to cover moved to roughly 1.
In the last trading session, FSD Pharma Inc. (NASDAQ:HUGE) raised by $0.29 over the week and lost -$0.15 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $17.49. The stock recorded its established 52-week high on 09/09/19.
Since 03/18/20, the stock has traded to a low of $2.39 at 33.05%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, FSD Pharma Inc.’s two-week RSI is 50.76. This suggests that the stock is neutral at the moment and that HUGE shares’ price movement remains stable. The stochastic readings are equally revealing at 61% meaning the HUGE share price is currently in neutral territory.
The technical chart shows that the HUGE stock will likely settle at between $3.5 and $3.81 per share. However, if the stock dips below $2.9, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $2.61.
Currently, the stock is trading in the green of MACD, with a reading of 0.18. 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 average rating for the HUGE equity is — and is currently gathering a bearish momentum. Of 1 analysts tracking FSD Pharma Inc. polled by Reuters, 0 rated HUGE 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.