An interesting stock that came up in some of our conversations today is Ruhnn Holding Limited (NASDAQ:RUHN). At current price of $4.61, the shares have already lost -0.43 points (-8.53% lower) from its previous close of $5.04. Should you buy or avoid them? The stock sets an active trading volume day with a reported 232933 contracts so far this session. RUHN shares had a relatively better volume day versus average trading capacity of 1.06 million shares, but with a 17.46 million float and a -15.44% run over a week, it’s definitely worth keeping an eye on. RUHN share price has been trading recently between $4.935 and $5.2398.
The shorts are climbing into Ruhnn Holding Limited (RUHN) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in RUHN shares. While short interest still represents only 2.02% of RUHN’s float, the number of shares shorted have risen by 101774. The number of shares shorted advanced to 454015 shares, up from 352241 shares during the preceding fortnight. With average daily trading volumes at 754989 shares, days to cover decreased to about 1 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Tencent-backed live-streaming firm DouYu files for $500 mln U.S. IPO” and dated April 23, 2019.
Looking at the current readings for Ruhnn Holding Limited, the two-week RSI stands at 0. This figure suggests that RUHN stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current RUHN readings is similarly very revealing as it has a stochastic reading of 3.21% at this stage. This figure means that RUHN share price today is being overbought.
Technical chart claims that Ruhnn Holding Limited (RUHN) would settle between $5.21/share to $5.38/share level. However, if the stock price goes below the $4.9 mark, then the market for Ruhnn Holding Limited becomes much weaker. If that happens, the stock price might even plunge as low as $4.77 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.52. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Moving on, RUHN stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 2.72 while for the average stock in the same group, the multiple is 2.41.