Positive sentiment towards LYB reflected in decline in short interest

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. LyondellBasell Industries NV shares valued at $1,542,834 were sold by Kaplan Jeffrey A on Nov 20. At $96.83 per share, Kaplan Jeffrey A sold 15,934 shares. The insider’s holdings dropped to 44,876 shares worth approximately $4.25 million following the completion of this transaction.

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Also, Kaplan Jeffrey A sold 10,000 shares, netting a total of over 975,623 in proceeds. Following the sale of shares at $97.56 each, the insider now holds 49,876 shares.

Before that, AI INVESTMENTS HOLDINGS LLC had sold 6,028 shares from its account. In a trade valued at $600,439, the 10% Owner traded LyondellBasell Industries NV shares for $99.61 each. Upon closing the transaction, the insider’s holdings decreased to 6,028 shares, worth approximately $6.04 million.

As published in a research note from JP Morgan on February 05, 2024, LyondellBasell Industries NV [LYB] has been rated up from a Neutral to an Overweight and the price target has been revised to $100 from $95.

Analyzing LYB Stock Performance

During the last five days, there has been a surge of approximately 0.18%. Over the course of the year, LyondellBasell Industries NV shares have dropped approximately -0.46%. Shares of the company reached a 52-week high of $97.75 on 01/03/24 and a 52-week low of $91.50 on 02/02/24. A 50-day SMA is recorded $94.68, while a 200-day SMA reached $93.76. Nevertheless, trading volume fell to 1.65 million shares from 2.28 million shares the previous day.

Support And Resistance Levels for LyondellBasell Industries NV (LYB)

According to the 24-hour chart, there is a support level at 94.11, which, if violated, would cause prices to drop to 93.59. In the upper region, resistance lies at 95.33. The next price resistance is at 96.03. RSI (Relative Strength Index) is 49.63 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.56, which suggests the price will decrease in the coming days. Percent R is at 48.86%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is LyondellBasell Industries NV subject to short interest?

Stocks of LyondellBasell Industries NV saw a sharp steep in short interest on Jan 31, 2024 dropping by -0.51 million shares to 4.04 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2023 was 4.55 million shares. A decline of -12.62% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.57 of the overall float, the days-to-cover ratio (short ratio) decline to 2.57.

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