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Is it a good time to sell GigaCloud Technology Inc [GCT] shares after an insider sold 44,000 shares?

CHWY Stock

GigaCloud Technology Inc’s filing revealed that its Chief Executive Officer Wu Lei unloaded Company’s shares for reported $1.58 million on Apr 26 ’24. In the deal valued at $35.89 per share,44,000 shares were sold. As a result of this transaction, Wu Lei now holds 797,816 shares worth roughly $27.11 million.

Then, Wu Lei sold 44,000 shares, generating $1,589,200 in total proceeds. Upon selling the shares at $36.12, the Chief Executive Officer now owns 841,816 shares.

Before that, Wu Lei sold 44,000 shares. GigaCloud Technology Inc shares valued at $1,607,722 were divested by the Chief Executive Officer at a price of $36.54 per share. As a result of the transaction, Wu Lei now holds 885,816 shares, worth roughly $30.1 million.

ROTH MKM initiated its GigaCloud Technology Inc [GCT] rating to a Buy in a research note published on June 16, 2023; the price target was $13. A number of analysts have revised their coverage, including Aegis Capital’s analysts, who began to cover the stock in early October with a ‘”a Buy”‘ rating.

Price Performance Review of GCT

On Monday, GigaCloud Technology Inc [NASDAQ:GCT] saw its stock fall -3.88% to $33.98. Over the last five days, the stock has lost -8.39%. GigaCloud Technology Inc shares have risen nearly 85.73% since the year began. Nevertheless, the stocks have risen 578.24% over the past one year. While a 52-week high of $45.18 was reached on 03/15/24, a 52-week low of $4.93 was recorded on 01/03/24. SMA at 50 days reached $33.54, while 200 days put it at $18.68. A total of 2.44 million shares were traded, compared to the trading of 2.27 million shares in the previous session.

Levels Of Support And Resistance For GCT Stock

The 24-hour chart illustrates a support level at 32.89, which if violated will result in even more drops to 31.80. On the upside, there is a resistance level at 35.38. A further resistance level may holdings at 36.77. The Relative Strength Index (RSI) on the 14-day chart is 50.14, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.50, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 59.95%. Stochastics %K at 54.43% indicates the stock is a holding.

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