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Taking a look at what insiders are doing to gauge the Cencora Inc. (COR)’s direction

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cencora Inc. shares valued at $2,553,860 were sold by COLLIS STEVEN H on Apr 16 ’24. At $237.48 per share, COLLIS STEVEN H sold 10,754 shares. The insider’s holdings dropped to 285,088 shares worth approximately $65.34 million following the completion of this transaction.

Also, Mauch Robert P. sold 57,564 shares, netting a total of over 13,532,721 in proceeds. Following the sale of shares at $235.09 each, the insider now holds 24,412 shares.

Before that, COLLIS STEVEN H had sold 10,755 shares from its account. In a trade valued at $2,583,459, the Chairman, President & CEO traded Cencora Inc. shares for $240.21 each. Upon closing the transaction, the insider’s holdings decreased to 10,755 shares, worth approximately $65.34 million.

As published in their initiating research note from Leerink Partners on February 26, 2024, Cencora Inc. [COR] has been an Outperform and the price target has been revised to $261. Analysts at Barclays started covering the stock with ‘”an Overweight”‘ outlook in a report released in early January. As of December 14, 2023, Wells Fargo has initiated its “an Equal weight” rating for COR. Earlier on March 31, 2023, Citigroup initiated its rating. Their recommendation was “a Buy” for COR stock.

Analyzing COR Stock Performance

During the last five days, there has been a drop of approximately -3.68%. Over the course of the year, Cencora Inc. shares have jumped approximately 11.60%. Shares of the company reached a 52-week high of $246.75 on 04/03/24 and a 52-week low of $204.53 on 01/02/24. A 50-day SMA is recorded $238.57, while a 200-day SMA reached $207.65. Nevertheless, trading volume fell to 3.24 million shares from 1.59 million shares the previous day.

Support And Resistance Levels for Cencora Inc. (COR)

According to the 24-hour chart, there is a support level at 225.48, which, if violated, would cause prices to drop to 221.77. In the upper region, resistance lies at 232.23. The next price resistance is at 235.27. RSI (Relative Strength Index) is 32.78 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.29, which suggests the price will decrease in the coming days. Percent R is at 73.43%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

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