Positive sentiment towards OBLG reflected in decline in short interest

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Oblong Inc shares valued at $9,655 were sold by ADELMAN JASON T on Oct 24. At $0.18 per share, ADELMAN JASON T sold 52,191 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.

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Also, Meredith Deborah Jean sold 7,373 shares, netting a total of over 10,504 in proceeds. Following the sale of shares at $1.42 each, the insider now holds 0 shares.

Before that, Meredith Deborah Jean had sold 3,671 shares from its account. In a trade valued at $5,530, the Director traded Oblong Inc shares for $1.51 each. Upon closing the transaction, the insider’s holdings decreased to 3,671 shares, worth approximately $1534.6000000000001.

Analyzing OBLG Stock Performance

During the last five days, there has been a surge of approximately 13.86%. Over the course of the year, Oblong Inc shares have jumped approximately 1.67%. Shares of the company reached a 52-week high of $0.2222 on 01/30/24 and a 52-week low of $0.1373 on 01/11/24. A 50-day SMA is recorded $0.1747, while a 200-day SMA reached $0.8353. Nevertheless, trading volume fell to 2.73 million shares from 0.41 million shares the previous day.

Support And Resistance Levels for Oblong Inc (OBLG)

According to the 24-hour chart, there is a support level at 0.1877, which, if violated, would cause prices to drop to 0.1741. In the upper region, resistance lies at 0.2122. The next price resistance is at 0.2231. RSI (Relative Strength Index) is 59.82 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0289, which suggests the price will decrease in the coming days. Percent R is at 24.62%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Oblong Inc subject to short interest?

Stocks of Oblong Inc saw a sharp steep in short interest on Jan 11, 2024 dropping by -0.43 million shares to 0.33 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2023 was 0.75 million shares. A decline of -131.04% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 0.26 of the overall float, the days-to-cover ratio (short ratio) decline to 0.26.

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