During the Lightning Round segment of Mad Money Thursday night one caller asked about Upstart (UPST) . "I don't understand the short position in this stock. This company is really good," commented Jim Cramer about the online lender that offers consumer loans.
The short interest in UPST is around 10 million shares.
Let's check out the charts and indicators.
In the daily Japanese candlestick chart of UPST, below, we see a mixed picture. Prices are in an uptrend from the start of trading in December. UPST has made an impressive advance from around $30 to briefly over $180.
Trading volume has increased since the IPO and that is good but the On-Balance-Volume (OBV) line shows a decline from early June telling us that traders have become more aggressive sellers. The trend following Moving Average Convergence Divergence (MACD) oscillator is below the zero line and bearish.