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Examining the Potential Price Growth of American Well Corporation (AMWL)

American Well Corporation’s recent filing unveils that its Chief Financial Officer Shepardson Robert unloaded Company’s shares for reported $5844.0 on Apr 01 ’24. In the deal valued at $0.77 per share,7,569 shares were sold. As a result of this transaction, Shepardson Robert now holds 2,784,414 shares worth roughly $1.67 million.

Then, Gotlib Phyllis sold 6,891 shares, generating $5,321 in total proceeds. Upon selling the shares at $0.77, the President, International now owns 2,459,579 shares.

Before that, Knight Kurt sold 6,157 shares. American Well Corporation shares valued at $4,754 were divested by the Chief Operating Officer at a price of $0.77 per share. As a result of the transaction, Knight Kurt now holds 3,081,414 shares, worth roughly $1.85 million.

Morgan Stanley downgraded its American Well Corporation [AMWL] rating to an Equal-weight from a an Overweight in a research note published on August 03, 2023; the price target was decreased to $2.50 from $5. A number of analysts have revised their coverage, including TD Cowen’s analysts, who decreased its forecast for the stock in late March from “an Outperform” to “a Market perform”. Piper Sandler also remained covering AMWL and has decreased its forecast on February 27, 2023 with a “Neutral” recommendation from previously “an Overweight” rating. BofA Securities revised its rating on January 04, 2023. It rated AMWL as “a Buy” which previously was an “a Neutral”.

Price Performance Review of AMWL

On Monday, American Well Corporation [NYSE:AMWL] saw its stock jump 12.92% to $0.60. Over the last five days, the stock has gained 7.95%. American Well Corporation shares have fallen nearly -59.99% since the year began. Nevertheless, the stocks have fallen -72.40% over the past one year. While a 52-week high of $2.73 was reached on 01/02/24, a 52-week low of $0.50 was recorded on 04/17/24. SMA at 50 days reached $0.8357, while 200 days put it at $1.2276. A total of 4.12 million shares were traded, compared to the trading of 2.57 million shares in the previous session.

Levels Of Support And Resistance For AMWL Stock

The 24-hour chart illustrates a support level at 0.5479, which if violated will result in even more drops to 0.4997. On the upside, there is a resistance level at 0.6203. A further resistance level may holdings at 0.6445. The Relative Strength Index (RSI) on the 14-day chart is 39.81, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0037, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 51.28%. Stochastics %K at 24.66% indicates the stock is a holding.

The most recent change occurred on September 07, 2022 when Truist began covering the stock and recommended ‘”a Hold”‘ rating along with a $5 price target.

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