Indonesia Energy Corp Ltd (AMEX:INDO) shares, rose in value on Thursday, January 02, with the stock price up by 14.03% to the previous day’s close as strong demand from buyers drove the stock to $3.17.
Actively observing the price movement in the last trading, the stock closed the session at $2.78, falling within a range of $2.82 and $3.3299. The value of beta (5-year monthly) was -0.049. Referring to stock’s 52-week performance, its high was $6.65, and the low was $2.03. On the whole, INDO has fluctuated by 7.82% over the past month.
With the market capitalization of Indonesia Energy Corp Ltd currently standing at about $43.11 million, investors are eagerly awaiting this quarter’s results, scheduled for in February.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that INDO’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of Hold while long-term indicators on average have been pointing out that it is a Hold.
The stock’s technical analysis shows that the price of INDO currently trading nearly 11.90% and -2.69% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 56.84, while the 7-day volatility ratio is showing 8.55% which for the 30-day chart, stands at 6.59%. Furthermore, Indonesia Energy Corp Ltd (INDO)’s beta value is -0.11, and its average true range (ATR) is 0.22.
A comparison of Indonesia Energy Corp Ltd (INDO) with its peers suggests the former has fared considerably weaker in the market. INDO showed an intraday change of 14.03% in last session, and over the past year, it grew by 14.44%%.
Data on historical trading for Indonesia Energy Corp Ltd (AMEX:INDO) indicates that the trading volumes over the past 10 days have averaged 0.36 and over the past 3 months, they’ve averaged 3.74 million. According to company’s latest data on outstanding shares, there are 7.36 million shares outstanding.
Nearly 52.51% of Indonesia Energy Corp Ltd’s shares belong to company insiders and institutional investors own 0.27% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.43 million shares as on 2024-12-13, resulting in a short ratio of 0.84. According to the data, the short interest in Indonesia Energy Corp Ltd (INDO) stood at 543.00 of shares outstanding as of 2024-12-13; the number of short shares registered in 2024-11-15 reached 0.45 million. The stock has risen by 14.03% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the INDO stock heading into the next quarter.
