The stock of Planet Green Holdings Corp. (NYSE:PLAG) is now priced at $2.08 and the shares are 0.38 points up or 22.71% higher compared to its previous closing price of $1.7. The stock had 1.425 million contracts set over the past session. PLAG shares’ daily volume is compared to its average trading volume at 149660 shares. However, it has a float of 6.17 million and although its performance was 18.18% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the PLAG share price recently placing at $1.8 to $2.38. However, some brokerage firms have priced the stock below the average, including one that has called $150.

The shorts are running away from the Planet Green Holdings Corp. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the PLAG shares have declined. Short interest in the stock represents just 2.54% of its float, but the volume has dropped by 0.

In the last trading session, Planet Green Holdings Corp. (NYSE:PLAG) raised by $0.32 over the week and gained $0.08 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $5.35. The stock recorded its established 52-week high on 10/31/19.

Since 02/27/20, the stock has traded to a low of $1.53 at 35.75%, 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 -0.14. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.

Looking at current readings, Planet Green Holdings Corp.’s two-week RSI is 55.16. This suggests that the stock is neutral at the moment and that PLAG shares’ price movement remains stable. The stochastic readings are equally revealing at 29.23% meaning the PLAG share price is currently in overbought territory.

The technical chart shows that the PLAG stock will likely settle at between $2.37 and $2.67 per share. However, if the stock dips below $1.79, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.51.

Currently, the stock is trading in the green of MACD, with a reading of 0.04. 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 stocks P/S ratio currently stands below the group’s average of 29. Planet Green Holdings Corp. has its P/E ratio at 1, which means that the stock is currently trading at a discount relative to the 2.6 industry average.