Why ClearSign Combustion Corporation (CLIR)’s Stock Is Melting Up 6% Today

Today’s big question for investors is, “what’s going on with ClearSign Combustion Corporation (NASDAQ:CLIR) stock? Its price is jumping 0.06 points, trading at $1.06 levels, and is up 6% from its previous close of $1. The shares seem to have an active trading volume day with a reported 123853 contracts so far this session. CLIR shares had a relatively better volume day versus average trading capacity of 69.23 million shares, but with a 18.72 million float and a 25% run over a week, it’s definitely worth keeping an eye on. CLIR share price has been trading recently between $0.95 and $1.02.

The shorts are running away from ClearSign Combustion Corporation (CLIR) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a drop in short interest in CLIR shares. While short interest still represents only 5.63% of CLIR’s float, the number of shares shorted have fallen by -7409. The number of shares shorted fell to 1046934 shares, down from 1054343 shares during the preceding fortnight. With average daily trading volumes at 49426 shares, days to cover decreased to about 21.30115 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Edited Transcript of CLIR earnings conference call or presentation 8-May-19 9:00pm GMT” and dated May 16, 2019.

During the recent trading session for ClearSign Combustion Corporation (NASDAQ:CLIR), the company witnessed their stock rise $0.2 over a week and surge $0.2 from the price 20 days ago. When compared to their established 52-week high of $2.25, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/16/18. The recent low of $0.75 stood for a -52.89% since 05/10/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.45 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for ClearSign Combustion Corporation, the two-week RSI stands at 62.42. This figure suggests that CLIR stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current CLIR readings is similarly very revealing as it has a stochastic reading of 32.89% at this stage. This figure means that CLIR share price today is being neutral.

Technical chart claims that ClearSign Combustion Corporation (CLIR) would settle between $1.03/share to $1.06/share level. However, if the stock price goes below the $0.96 mark, then the market for ClearSign Combustion Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $0.92 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.07. 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, CLIR stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 56.47 while for the average stock in the same group, the multiple is 4.27.