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Examining the Potential Price Growth of ContextLogic Inc (LOGC)

ZOM Stock

In a filing, ContextLogic Inc revealed its General Counsel & CCO Forster Joanna unloaded Company’s shares for reported $53493.0 on May 03 ’24. In the deal valued at $5.37 per share,9,954 shares were sold. As a result of this transaction, Forster Joanna now holds 29,092 shares worth roughly $0.16 million.

Then, Just Brett sold 5,720 shares, generating $30,962 in total proceeds. Upon selling the shares at $5.41, the Chief Financial Officer now owns 12,450 shares.

Before that, Forster Joanna sold 16,394 shares. ContextLogic Inc shares valued at $89,331 were divested by the General Counsel & CCO at a price of $5.45 per share. As a result of the transaction, Forster Joanna now holds 39,046 shares, worth roughly $0.22 million.

Citigroup upgraded its ContextLogic Inc [LOGC] 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 LOGC 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 LOGC as “a Sell”.

Price Performance Review of LOGC

On Monday, ContextLogic Inc [NASDAQ:LOGC] saw its stock jump 8.58% to $5.57. Over the last five days, the stock has gained 6.30%. ContextLogic Inc shares have fallen nearly -6.39% since the year began. Nevertheless, the stocks have fallen -27.28% 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 $5.69, while 200 days put it at $5.30. A total of 0.7 million shares were traded, compared to the trading of 0.15 million shares in the previous session.

Levels Of Support And Resistance For LOGC Stock

The 24-hour chart illustrates a support level at 5.13, which if violated will result in even more drops to 4.69. On the upside, there is a resistance level at 5.88. A further resistance level may holdings at 6.19. The Relative Strength Index (RSI) on the 14-day chart is 51.69, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.19, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 43.28%. Stochastics %K at 26.83% indicates the stock is a holding.

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