ToughBuilt Industries, Inc. (NASDAQ:TBLT) is among the top losers of the stock market today, sinking 0.2% or (0 points) to $0.34 from its previous close of $0.34. 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 127355 contracts so far this session. TBLT shares had a relatively better volume day versus average trading capacity of 1.81 million shares, but with a 12.39 million float and a -21.1% run over a week, it’s definitely worth keeping an eye on. TBLT share price has been trading recently between $0.3315 and $0.4085.
The shorts are climbing into ToughBuilt Industries, Inc. (TBLT) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a rise in short interest in TBLT shares. While short interest still represents only 4.25% of TBLT’s float, the number of shares shorted have risen by 40421. The number of shares shorted advanced to 566942 shares, up from 526521 shares during the preceding fortnight. With average daily trading volumes at 874351 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 “ToughBuilt Announces Launch of Amazon Mexico Storefront as Part of Global E-Commerce Initiative” and dated June 12, 2019.
Looking at the current readings for ToughBuilt Industries, Inc., the two-week RSI stands at 33.93. This figure suggests that TBLT 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 TBLT readings is similarly very revealing as it has a stochastic reading of 27.23% at this stage. This figure means that TBLT share price today is being overbought.
Technical chart claims that ToughBuilt Industries, Inc. (TBLT) would settle between $0.39/share to $0.44/share level. However, if the stock price goes below the $0.31 mark, then the market for ToughBuilt Industries, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.28 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.04. 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.