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Citigroup upgrades ContextLogic Inc (WISH) stock to a Neutral

ContextLogic Inc’s filing revealed that its Chief Product Officer Monico Mauricio unloaded Company’s shares for reported $0.34 million on Mar 15 ’24. In the deal valued at $6.10 per share,55,035 shares were sold. As a result of this transaction, Monico Mauricio now holds 0 shares worth roughly $0.0.

Then, Just Brett sold 7,999 shares, generating $50,445 in total proceeds. Upon selling the shares at $6.31, the SVP, Finance now owns 6,859 shares.

Citigroup upgraded its ContextLogic Inc [WISH] rating to a Neutral from a a Sell in a research note published on November 09, 2023; the price target was increased to $5.50 from $5. A number of analysts have revised their coverage, including Loop Capital’s analysts, who increased its forecast for the stock in early November from “a Sell” to “a Hold”. Loop Capital also remained covering WISH and has decreased its forecast on June 29, 2023 with a “Sell” recommendation from previously “Hold” rating. Citigroup started covering the stock on December 13, 2022. It rated WISH as “a Sell”.

Price Performance Review of WISH

On Tuesday, ContextLogic Inc [NASDAQ:WISH] saw its stock fall -1.77% to $5.55. Over the last five days, the stock has lost -7.35%. ContextLogic Inc shares have fallen nearly -6.72% since the year began. Nevertheless, the stocks have fallen -23.02% over the past one year. While a 52-week high of $9.90 was reached on 02/20/24, a 52-week low of $3.55 was recorded on 01/17/24. SMA at 50 days reached $5.90, while 200 days put it at $5.44. A total of 0.79 million shares were traded, compared to the trading of 0.4 million shares in the previous session.

Levels Of Support And Resistance For WISH Stock

The 24-hour chart illustrates a support level at 5.45, which if violated will result in even more drops to 5.34. On the upside, there is a resistance level at 5.67. A further resistance level may holdings at 5.78. The Relative Strength Index (RSI) on the 14-day chart is 47.63, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.16, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 39.72%. Stochastics %K at 67.94% indicates the stock is a holding.

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