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Group President Tan Kwang Hooi sold 8,027 shares of Flex Ltd [FLEX]

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. Flex Ltd shares valued at $231,235 were sold by Tan Kwang Hooi on Mar 13 ’24. At $28.81 per share, Tan Kwang Hooi sold 8,027 shares. The insider’s holdings dropped to 159,718 shares worth approximately $4.21 million following the completion of this transaction.

Also, WENDLER DANIEL sold 1,860 shares, netting a total of over 53,728 in proceeds. Following the sale of shares at $28.89 each, the insider now holds 28,730 shares.

Before that, Hartung Michael P had sold 43,381 shares from its account. In a trade valued at $1,323,576, the Group President traded Flex Ltd shares for $30.51 each. Upon closing the transaction, the insider’s holdings decreased to 43,381 shares, worth approximately $4.08 million.

As published in their initiating research note from Barclays on September 07, 2023, Flex Ltd [FLEX] has been an Overweight and the price target has been revised to $35. As of August 17, 2022, Credit Suisse has initiated its “an Outperform” rating for FLEX. Earlier on May 18, 2022, Argus upgraded its rating. Their new recommendation was “a Buy” for FLEX stock which previously was a “a Hold”.

Analyzing FLEX Stock Performance

During the last five days, there has been a drop of approximately -7.58%. Over the course of the year, Flex Ltd shares have jumped approximately 18.88%. Shares of the company reached a 52-week high of $30.93 on 03/08/24 and a 52-week low of $21.84 on 01/17/24. A 50-day SMA is recorded $28.45, while a 200-day SMA reached $26.75. Nevertheless, trading volume fell to 12.63 million shares from 5.81 million shares the previous day.

Support And Resistance Levels for Flex Ltd (FLEX)

According to the 24-hour chart, there is a support level at 25.12, which, if violated, would cause prices to drop to 23.89. In the upper region, resistance lies at 27.72. The next price resistance is at 29.09. RSI (Relative Strength Index) is 35.97 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.07, which suggests the price will decrease in the coming days. Percent R is at 76.25%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

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