Jiayin Group Inc. (NASDAQ:JFIN) is one of the stocks that are grabbing investor focus today: sinking -13.39% or (-1.47 points) to $9.48 from its previous close of $10.95. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 130228 contracts so far this session. JFIN shares had a relatively better volume day versus average trading capacity of 223.76 thousand shares, but with a 3.5 million float and a -32.48% run over a week, it’s definitely worth keeping an eye on. JFIN share price has been trading recently between $10.71 and $11.8799.
The shorts are running away from Jiayin Group Inc. (JFIN) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a drop in short interest in JFIN shares. While short interest still represents only 1.01% of JFIN’s float, the number of shares shorted have fallen by -30014. The number of shares shorted fell to 36849 shares, down from 66863 shares during the preceding fortnight. With average daily trading volumes at 48092 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 “Jiayin Group Reports First Quarter 2019 Unaudited Financial Results” and dated June 11, 2019.
Looking at the current readings for Jiayin Group Inc., the two-week RSI stands at 36.09. This figure suggests that JFIN 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 JFIN readings is similarly very revealing as it has a stochastic reading of 4.6% at this stage. This figure means that JFIN share price today is being overbought.
Technical chart claims that Jiayin Group Inc. (JFIN) would settle between $11.65/share to $12.35/share level. However, if the stock price goes below the $10.48 mark, then the market for Jiayin Group Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $10.01 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -3.06. 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.