HUMBL Inc (OTCMKTS:HMBL) Stock Continues to Trend Lower: Here is Why

It may have been one of the major movers from among small cap stocks earlier on this year but in the past month the consumer blockchain firm HUMBL Inc (OTCMKTS:HMBL) has seen its stock take a bit of a beating.

Market Stats

On Friday, HMBL stock surged 0.72% at $0.6225 with more than 2.35 million shares, compared to its average volume of 4.18 million shares. The stock has moved within a range of $0.6101 – 0.6300 after opening the trade at $0.6180.

Latest News

During this period the HUMBL stock tanked by as much as 15% amidst a steady selloff and in this situation it might be a good idea for investors to figure out if the decline could be an opportunity or not. There has been no news about the company in recent week but last month HUMBL announced that it was going to collaborate with BLOCK, a decentralised blockchain project.

It was a major announcement from the company considering the fact that the project in question could in fact prove to be an important for HUMBL in the long term. It should be noted that BLOCKS is among the world’s first Wyoming DAO LLC that had been created with the view of providing a decentralised blockchain network that is based out of the United States.

However, it seems that the news did not come as a source of any excitement for investors and that can be seen from the price action in the HUMBL stock. Investors could do well to keep HUMBL in their watch lists at this point.

Traders Corner

HMBL stock is trading below the 20-Day and 50-Day Moving averages of $0.67 and $0.77 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.73. The stock is down 24% in the past 3-month.

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.