The stock of ChampionX Corporation (NYSE:CHX) is now priced at $10.3 and the shares are 0.06 points up or 0.59% higher compared to its previous closing price of $10.24. The stock had 1.245 million contracts set over the past session. CHX shares’ daily volume is compared to its average trading volume at 5.377 million shares. However, it has a float of 199 million and although its performance was -2% over the week, it’s one to watch. Analysts have given the CHX stock a yearly average price target of $14.36 per share. It means the stock’s upside potential is 39.42% with the CHX share price recently placing at $9.8775 to $10.31. However, some brokerage firms have priced the stock below the average, including one that has called $12.

The shorts are running away from the ChampionX Corporation stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the CHX shares have declined. Short interest in the stock represents just 5.11% of its float, but the volume has dropped by 0.

In the last trading session, ChampionX Corporation (NYSE:CHX) dropped by -$0.21 over the week and gained $0.29 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $34.8. The stock recorded its established 52-week high on 12/30/19.

Since 03/23/20, the stock has traded to a low of $2.89 at 256.4%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.

Looking at current readings, ChampionX Corporation’s two-week RSI is 49.9. This suggests that the stock is neutral at the moment and that CHX shares’ price movement remains stable. The stochastic readings are equally revealing at 41.35% meaning the CHX share price is currently in neutral territory.

The technical chart shows that the CHX stock will likely settle at between $10.45 and $10.6 per share. However, if the stock dips below $10.01, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $9.73.

Currently, the stock is trading in the green of MACD, with a reading of 0.1. 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 CHX a rating of Buy in their intiating review released on June 26. BofA/Merrill analysts see the stock as a Buy with a target price of $12 in a flash note released to investors on June 22 initiating covering the stock.

The average rating for the CHX equity is 1.83 and is currently gathering a bullish momentum. Of 12 analysts tracking ChampionX Corporation polled by Reuters, 3 rated CHX as a hold. The remaining 9 analysts were split evenly. However, the split wasn’t equal as a majority (9) 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.

Elsewhere, the CHX stock price is 46.61X ahead of its 12-month Consensus earnings per share estimates.