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The Potential Rise in the Price of Cognex Corp. (CGNX) following insiders activity

Cognex Corp.’s recently made public that its Chief Technology Officer Kuechen Joerg unloaded Company’s shares for reported $0.22 million on Mar 12 ’24. In the deal valued at $40.93 per share,5,331 shares were sold. As a result of this transaction, Kuechen Joerg now holds 2,934 shares worth roughly $0.14 million.

Then, Gerst Carl sold 6,782 shares, generating $274,923 in total proceeds. Upon selling the shares at $40.54, the EVP, Vision & ID Products now owns 0 shares.

HSBC Securities upgraded its Cognex Corp. [CGNX] rating to a Buy from a a Hold in a research note published recently. A number of analysts have revised their coverage, including UBS’s analysts, who increased its forecast for the stock in mid March from “a Neutral” to “a Buy”. Truist began covering CGNX with “Buy” recommendation on March 14, 2024. Exane BNP Paribas started covering the stock on October 05, 2023. It rated CGNX as “an Outperform”.

Price Performance Review of CGNX

On Monday, Cognex Corp. [NASDAQ:CGNX] saw its stock jump 0.93% to $46.85. Over the last five days, the stock has gained 5.30%. Cognex Corp. shares have risen nearly 12.24% since the year began. Nevertheless, the stocks have fallen -6.54% over the past one year. While a 52-week high of $59.51 was reached on 05/13/24, a 52-week low of $34.28 was recorded on 02/06/24. SMA at 50 days reached $41.46, while 200 days put it at $40.88. A total of 1.1 million shares were traded, compared to the trading of 0.81 million shares in the previous session.

Levels Of Support And Resistance For CGNX Stock

The 24-hour chart illustrates a support level at 46.58, which if violated will result in even more drops to 46.30. On the upside, there is a resistance level at 47.36. A further resistance level may holdings at 47.86. The Relative Strength Index (RSI) on the 14-day chart is 77.56, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.20, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 8.47%. Stochastics %K at 94.10% indicates the stock is a selling.

The most recent change occurred on October 03, 2023 when KeyBanc Capital Markets began covering the stock and recommended ‘”a Sector weight”‘ rating.

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