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Otis Worldwide Corp [OTIS] Investment Appeal on the Rise

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Otis Worldwide Corp’s recent filing unveils that its EVP, Chief Product, Delivery Zheng Peiming unloaded Company’s shares for reported $2.84 million on May 07 ’24. In the deal valued at $93.69 per share,30,364 shares were sold. As a result of this transaction, Zheng Peiming now holds 15,570 shares worth roughly $1.51 million.

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Then, de Montlivault Stephane sold 18,393 shares, generating $1,675,626 in total proceeds. Upon selling the shares at $91.10, the President, Otis Asia Pacific now owns 67,274 shares.

Before that, LaFreniere Nora E. sold 22,106 shares. Otis Worldwide Corp shares valued at $2,008,832 were divested by the EVP, General Counsel at a price of $90.87 per share. As a result of the transaction, LaFreniere Nora E. now holds 24,927 shares, worth roughly $2.42 million.

Melius initiated its Otis Worldwide Corp [OTIS] rating to a Hold in a research note published recently. A number of analysts have revised their coverage, including Argus’s analysts, who increased its forecast for the stock in late February from “a Hold” to “a Buy”. Vertical Research also remained covering OTIS and has decreased its forecast on January 02, 2024 with a “Hold” recommendation from previously “Buy” rating. UBS started covering the stock on October 03, 2023. It rated OTIS as “a Neutral”.

Price Performance Review of OTIS

On Friday, Otis Worldwide Corp [NYSE:OTIS] saw its stock jump 1.01% to $97.10. Over the last five days, the stock has gained 5.41%. Otis Worldwide Corp shares have risen nearly 8.53% since the year began. Nevertheless, the stocks have risen 13.63% over the past one year. While a 52-week high of $100.35 was reached on 03/22/24, a 52-week low of $73.32 was recorded on 01/17/24. SMA at 50 days reached $96.39, while 200 days put it at $88.16. A total of 2.46 million shares were traded, compared to the trading of 1.8 million shares in the previous session.

Levels Of Support And Resistance For OTIS Stock

The 24-hour chart illustrates a support level at 96.52, which if violated will result in even more drops to 95.94. On the upside, there is a resistance level at 97.43. A further resistance level may holdings at 97.76. The Relative Strength Index (RSI) on the 14-day chart is 59.21, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.30, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 8.67%. Stochastics %K at 74.78% indicates the stock is a holding.

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