Taronis Technologies, Inc. (TRNX)’s Big Moment Looks Overdone

Taronis Technologies, Inc., which has current market capitalization of above $34 Million, published its last quarter earnings on June 30, 2019.

TRNX surged by $0.53 during the normal trading session on Wednesday and reaching a high of $2.31 during the day while it closed the day at $2.08. The Taronis stock had a low trading volume of 2.94 million shares on that day, which is low compared to the average daily volume of 4.11M shares. TRNX has also gained 20.23% of its value over the past 7 days. However, the stock has surged by 9.19% in the 3 months of the year. Over the past six months meanwhile, it has lost 42.22% while it has lost 91.57% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -58.03% from its 3 months high price. However, taking another look at TRNX will indicate that it is trading +222.48% away from its 90-day low. Looking at the bigger picture, the Taronis Technologies, Inc. stock has dropped by -96.94% from its 52-week high while it has surged by +222.48% from its 52-week low price.

Taronis has around 2 Billion cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $7 Billion. The Taronis stock is bringing in revenue of over 12 months, which is roughly 44 Billion. Despite all that, Taronis Technologies, Inc. is seeing things progressing very much as their y-o-y quarterly revenue surged by 0.84%.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 33.21%. This figure is better than the company’s 20-day Raw Stochastic average which currently stands at 15.56%. Over the past 20 days, Taronis’s Stochastic %K stood at 10.37% while its Stochastic %D was revealed to be 7.99%.