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Carrier Global Corp [CARR] Records 50-Day SMA of $58.04

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Carrier Global Corp shares valued at $9,907,164 were sold by Timperman Jurgen on Apr 29 ’24. At $61.95 per share, Timperman Jurgen sold 159,915 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.

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Also, Timperman Jurgen sold 38,858 shares, netting a total of over 2,395,087 in proceeds. Following the sale of shares at $61.64 each, the insider now holds 0 shares.

Before that, Gitlin David L. had sold 354,539 shares from its account. In a trade valued at $19,203,073, the Chairman and CEO traded Carrier Global Corp shares for $54.16 each. Upon closing the transaction, the insider’s holdings decreased to 354,539 shares, worth approximately $27.58 million.

As published in a research note from Wolfe Research on October 12, 2023, Carrier Global Corp [CARR] has been rated down from a Peer perform to an Underperform and the price target has been revised to $56. Analysts at JP Morgan downgraded the stock from ‘”a Neutral”‘ to ‘”an Underweight”‘ outlook in a report released in early October. As of October 05, 2023, BofA Securities has decreased its “Neutral” rating to a “an Underperform” for CARR. Earlier on September 14, 2023, Mizuho downgraded its rating. Their new recommendation was “a Neutral” for CARR stock which previously was a “a Buy”.

Analyzing CARR Stock Performance

During the last five days, there has been a surge of approximately 7.06%. Over the course of the year, Carrier Global Corp shares have jumped approximately 13.56%. Shares of the company reached a 52-week high of $65.34 on 05/09/24 and a 52-week low of $53.13 on 02/20/24. A 50-day SMA is recorded $58.04, while a 200-day SMA reached $55.38. Nevertheless, trading volume fell to 2.66 million shares from 2.3 million shares the previous day.

Support And Resistance Levels for Carrier Global Corp (CARR)

According to the 24-hour chart, there is a support level at 64.58, which, if violated, would cause prices to drop to 63.92. In the upper region, resistance lies at 65.62. The next price resistance is at 66.00. RSI (Relative Strength Index) is 73.21 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.88, which suggests the price will increase in the coming days. Percent R is at 0.84%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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