51.71% Short Interest On SURG Stock: Buyers Await A Short Squeeze.

SURG appears to be in a strong bullish trend. Its 200-day moving average is upwards sloping and the MACD histogram is above 0. Comparative Relative Strength analysis shows that this issue is outperforming the S&P 500.

Surg stock such pays inc it gained 4.15 in the post market session on friday the 14th of october 2022 in this period between the pre-market session of today the 17th it is still holding that gain and we know that for sure this stock is in strong bullish trade it appears to be in a strong bullish trend it’s 200-day moving average which underlies the divine trend is

Upwards looking and it’s also a performing the s p 500 it has a healthy short interest against it that’s about that’s about um according to uh fintel’s about 51 of thereabouts which means that around 34 million dollars is locked up into the stock so there’s a the skepticism towards the fundamentals of the stock but also at the same time it seems also the market

Participants are you know uh evidently kicking against that you know they have amongst other things maybe they have just seen the fact that this 51 percent is there 51 shot interest is there and also implying that 34 million yeah dollars is uh is 34 million dollars worth of 24 million dollars is locked into the stock you know this is something that can force back

Into the stock using using aggressive means using market orders they can be when they are forced to you know buy back some of those positions when some of these short sellers some of these short positions are cut caught up in a shot squeeze you know most of them are going to go through using market orders and that will imply an aggressive squeeze but it will

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Thin out the market they make you know cost volatility or liquidity to to drop and when that drops then it also you know results in a huge spike but at the same time they can’t they they they the reverse will also be the case so market participants are probably looking at the fundamentals at the same time also looking primarily i believe at this short interest

Of the 51.51 or thereabouts you know so according to fintel as well it has a short sweet short squeeze cause of short squeeze score of 93.94 at some point it was last week was about 97 and all that stuff you know so there is uh it’s good to see a stock that is in a strong british trend and also has a relatively high shot squeeze score based on one what fintel is

Indicating and also a reasonable amount of short interest so it’s always good to see that sort of uh such sort of uh uh these sort of scenarios playing out in the stock like this as against one that is in a strong bear or in a bearish trend you know or consolidating and there’s also a huge amount of shot interest you know so you know it’s just an indication that um

Market participants are definitely observing what’s going on you know it has it has cooled off of late you know but um it’s still you know the the the the the the shot squeeze engine of the stock is still humming it’s still very much alive so we have a projected price target of 6.80 which is close to where uh this fibonacci projection is which is around a 6.95 as

A matter of fact this 6.95 is just that where it had a a resistance this resistance was sometimes close to early august of last year so the stock has actually been um before sometime in july it was actually in a much steeper bullish trend a much steeper one and that was where it got a rejection around 6.95 you know and i got pivoted again sometime in august early

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August as well you get yet got yet another rejection but this time around not as high as 6.95 around 6.7 was from there declined and moved sideways from where we now began it now began this current uh upward push in early september abroad currently now it’s also it is uh it has corrected you know and the rest is not where it is right now which is around 5.52 so

Our projection is 6.8 it could it can it may also you know extend beyond that you know so let’s just have a look and see you know if nothing has crossed the tape yet you know because it’s just a pretty much um pretty much pretty much the pre-market session has been resumed so we can see for the october 21st uh series that is this friday the 21st october we had

You can see the open interest there for the 750 calls you know this is an indication and an application indication that market participants are expecting to the stock to even go even beyond what we have switches 6.80 expecting the stock to get to 7.7.5 so amongst other things the reason why that is the case is because you know it is uh naturally you would expect

You know and it’s it’s the stock is the strong bullish trend you know you would naturally expect it to probably to continue to extend or carry on the momentum toss those levels and also because of the fact that um it’s not in the money yet so it is it isn’t a huge premium to uh to the stock or today today to the contract so we can see roughly five cents to what’s

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Going to cost you to get one contract you know so let’s also have a look at the november 18 and see what’s going on there we have uh okay the open interest on the five dollar calls is uh naturally you would expect that to be the case as well it is it is in the money and it’s also not that expensive as such you know so it’s only going to cost you eighty dollars to

Get one contract um but do we have anything in that regard towards the 750 relatively you can see that 926 contracts for the 750. so yes to some extent it’s some extent they are pricing a moves so towards uh 750 i know a target is a 6.80 so uh we’ll continue to update you concerning surg you know 34 million dollars you know locked up into the stock you know all

Of these i’m saying that i’m not trying to um imply that it is a buy or get it get in you know seen you know i’m trying to convince i’m not trying to convince you to buy it but you know this these are the facts you know you can see them yourself you know so um see what you make of scrg i’ll tag it once again 6.80 option traders corruption traders are projecting

A move towards 750 and uh thank you very much for watching this video

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51.71% Short Interest On SURG Stock: Buyers Await A Short Squeeze. By Equity4keeps Programme