What’s wrong with Kaixin Auto Holdings (KXIN) today

Stay Ahead of Wall Street. Find out what is happening to Kaixin Auto Holdings (NASDAQ:KXIN) stock today? Its price is nose-diving -0.17 points, trading at $2.91 levels, and is down -5.52% from its previous close of $3.08. The shares seem to have an active trading volume day with a reported 112199 contracts so far this session. KXIN shares had a relatively better volume day versus average trading capacity of 161.14 thousand shares, but with a 0 million float and a 4.76% run over a week, it’s definitely worth keeping an eye on. KXIN share price has been trading recently between $3.05 and $3.2.

The shorts are climbing into Kaixin Auto Holdings (KXIN) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in KXIN shares. While short interest still represents only 0% of KXIN’s float, the number of shares shorted have risen by 57834. The number of shares shorted advanced to 98224 shares, up from 40390 shares during the preceding fortnight. With average daily trading volumes at 79361 shares, days to cover increased to about 1 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “open in yahoo” and dated May 13, 2019.

Looking at the current readings for Kaixin Auto Holdings, the two-week RSI stands at 24.24. This figure suggests that KXIN 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 KXIN readings is similarly very revealing as it has a stochastic reading of 6.94% at this stage. This figure means that KXIN share price today is being overbought.

Technical chart claims that Kaixin Auto Holdings (KXIN) would settle between $3.17/share to $3.26/share level. However, if the stock price goes below the $3.02 mark, then the market for Kaixin Auto Holdings becomes much weaker. If that happens, the stock price might even plunge as low as $2.96 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.1. 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.

Kaixin Auto Holdings current P/E ratio of 36.26 means it is trading at a premium against its industry’s 13.41. In the past 5 years, this ratio for the stock has been fluctuating between 0 and 0.