The iron and steel name is sitting in "oversold" territory
Ramaco Resources Inc (NASDAQ:METC) is 3.7% higher at $30.74 this morning, after news of the rare earths stock's deal with Goldman Sachs to establish the first-ever national critical minerals stockpile. This comes just one day after the U.S. and China reached a trade deal and rare earths truce, and three days after the company's post-earnings pullback below $30.
Headed for its third-straight daily win, Ramaco Resources stock is on the rebound after a sharp pullback from its Oct. 15 record high of $57.80. Now headed back above the round $30 level, today's jump has the shares chipping away at their 6% quarterly deficit.
The iron and steel stock is sporting a 14-day Relative Strength Index (RSI) of 30, which sits just barely inside "oversold" territory. This also points to a short-term rebound.
Short sellers have been crowding the equity, with short interest up 6% during the most recent reporting period. This accounts for nearly 15.8% of the stock's total available float, and would take short sellers roughly two days to buy back.
Lastly, it looks as though METC tends to outperform options traders' volatility expectations. This is per its Schaeffer's Volatility Scorecard (SVS) of 76 (out of 100)