The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Watsco Inc. shares valued at $2,061,700 were sold by ALVAREZ CESAR L on Dec 12 ’23. At $412.34 per share, ALVAREZ CESAR L sold 5,000 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
Also, ALVAREZ CESAR L sold 4,000 shares, netting a total of over 1,330,560 in proceeds. Following the sale of shares at $332.64 each, the insider now holds 0 shares.
As published in a research note from Deutsche Bank on December 08, 2023, Watsco Inc. [WSO] has been rated up from a Hold to a Buy and the price target has been revised to $500 from $387. Analysts at Mizuho started covering the stock with ‘”a Neutral”‘ outlook in a report released in late July. As of July 10, 2023, KeyBanc Capital Markets has decreased its “an Overweight” rating to a “Sector weight” for WSO. Earlier on January 10, 2023, UBS initiated its rating. Their recommendation was “a Neutral” for WSO stock.
Analyzing WSO Stock Performance
During the last five days, there has been a surge of approximately 9.08%. Over the course of the year, Watsco Inc. shares have jumped approximately 2.83%. Shares of the company reached a 52-week high of $451.29 on 04/24/24 and a 52-week low of $373.33 on 02/20/24. A 50-day SMA is recorded $409.36, while a 200-day SMA reached $387.08. Nevertheless, trading volume fell to 0.78 million shares from 0.47 million shares the previous day.
Support And Resistance Levels for Watsco Inc. (WSO)
According to the 24-hour chart, there is a support level at 424.52, which, if violated, would cause prices to drop to 408.45. In the upper region, resistance lies at 453.98. The next price resistance is at 467.37. RSI (Relative Strength Index) is 62.05 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.87, which suggests the price will decrease in the coming days. Percent R is at 19.62%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
