Cosmos (COSM) has been the subject of a short squeeze around many social media networks the past few weeks.
Volume in the securities reached 227M shares today versus a daily average of 29M shares. There were approximately 88M shares outstanding and 48M shares in the float as of the most recent quarter.
Is Cosmos Overbought?
Going by the technical’s the RSI (14) is flashing a very overbought situation at 88.62 currently. This does not mean that the uptrend will not continue after this one has time to cool off, however odds are a pull-back is coming in the very, very near-term. If investor interest remains at these levels we think there is a good chance of the uptrend continuing after the chart has time to cool off.
We are keeping on eye on this one as the potential squeeze develops. Stay tuned for more on COSM.
The Traders News Team
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