The market has been high on Recon Technology, Ltd. (RCON) stock recently. RCON gets a Bullish score from InvestorsObserver's Stock Sentiment Indicator.
What is Stock Sentiment?
Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score.
As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend.
Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down.
InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend.
Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.
What's Happening With RCON Stock Today?
Recon Technology, Ltd. (RCON) stock is trading at $1.97 as of 2:43 PM on Wednesday, Jan 20, an increase of $0.22, or 12.49% from the previous closing price of $1.75. The stock has traded between $1.73 and $2.02 so far today. Volume today is more active than usual. So far 2,705,242 shares have traded compared to average volume of 1,930,470 shares.
More About Recon Technology, Ltd.
Recon Technology Ltd is a leading oilfield service company. The company is engaged in the sale of oilfield automation products, equipment for oil and gas production and transportation, and engineering services. It has three operating segments: Automation Product and Software, Equipment and Accessories, and Oilfield Environmental Protection. Most of the firm's revenue comes from the Automation Product and Software segment.