The stock of Allied Esports Entertainment Inc. (NASDAQ:AESE) is now priced at $1.58 and the shares are -0.16 points down or -9.2% lower compared to its previous closing price of $1.74. The stock had 1.8 million contracts set over the past session. AESE shares’ daily volume is compared to its average trading volume at 4.687 million shares. However, it has a float of 7.1 million and although its performance was -3.66% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the AESE share price recently placing at $1.55 to $1.78. However, some brokerage firms have priced the stock below the average, including one that has called $4.

The shorts are climbing into the Allied Esports Entertainment Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the AESE shares have risen. Short interest in the stock represents just 3% of its float, but the volume has raised by 154268. The volume of shorted shares rised to 212951 from 58683 shares over the last two weeks. The average intraday trading volume has been 621614 shares, which means that days to cover moved to roughly 1.

In the last trading session, Allied Esports Entertainment Inc. (NASDAQ:AESE) dropped by -$0.06 over the week and lost -$0.53 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $6.28. The stock recorded its established 52-week high on 09/19/19.

Since 03/12/20, the stock has traded to a low of $0.4 at 295%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.

Looking at current readings, Allied Esports Entertainment Inc.’s two-week RSI is 42.59. This suggests that the stock is neutral at the moment and that AESE shares’ price movement remains stable. The stochastic readings are equally revealing at 24.84% meaning the AESE share price is currently in overbought territory.

The technical chart shows that the AESE stock will likely settle at between $1.7233 and $1.8667 per share. However, if the stock dips below $1.4933, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.4067.

Currently, the stock is trading in the red of MACD, with a reading of -0.0061. 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 AESE a rating of Overweight in their intiating review released on December 18. Dougherty & Company analysts see the stock as a Buy in a flash note released to investors on December 11 initiating covering the stock.

The average rating for the AESE equity is 1.33 and is currently gathering a bullish momentum. Of 2 analysts tracking Allied Esports Entertainment Inc. polled by Reuters, 0 rated AESE as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (2) 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.

The stocks P/S ratio currently stands below the group’s average of 36.4. Allied Esports Entertainment Inc. has its P/E ratio at 1, which means that the stock is currently trading at a discount relative to the 3.6 industry average.