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The Potential Rise in the Price of Confluent Inc (CFLT) following insiders activity

In a filing, Confluent Inc revealed its CHIEF ACCOUNTING OFFICER Liu Ying Christina unloaded Company’s shares for reported $0.12 million on May 10 ’24. In the deal valued at $29.97 per share,4,000 shares were sold. As a result of this transaction, Liu Ying Christina now holds 168,338 shares worth roughly $5.04 million.

Then, Liu Ying Christina sold 68,000 shares, generating $2,112,080 in total proceeds. Upon selling the shares at $31.06, the CHIEF ACCOUNTING OFFICER now owns 168,338 shares.

Before that, Schultz Erica sold 63,729 shares. Confluent Inc shares valued at $1,975,599 were divested by the PRESIDENT, FIELD OPERATIONS at a price of $31.00 per share. As a result of the transaction, Schultz Erica now holds 706,715 shares, worth roughly $21.17 million.

Canaccord Genuity upgraded its Confluent Inc [CFLT] rating to a Buy from a a Hold in a research note published recently. A number of analysts have revised their coverage, including Stifel’s analysts, who began to cover the stock in late February with a ‘”a Buy”‘ rating. Loop Capital began covering CFLT with “Hold” recommendation on January 30, 2024. Bernstein started covering the stock on November 28, 2023. It rated CFLT as “an Outperform”.

Price Performance Review of CFLT

On Monday, Confluent Inc [NASDAQ:CFLT] saw its stock jump 1.84% to $29.96. Over the last five days, the stock has gained 4.65%. Confluent Inc shares have risen nearly 28.03% since the year began. Nevertheless, the stocks have risen 26.95% over the past one year. While a 52-week high of $41.22 was reached on 03/04/24, a 52-week low of $14.69 was recorded on 01/18/24. SMA at 50 days reached $30.03, while 200 days put it at $28.03. A total of 4.64 million shares were traded, compared to the trading of 3.73 million shares in the previous session.

Levels Of Support And Resistance For CFLT Stock

The 24-hour chart illustrates a support level at 29.04, which if violated will result in even more drops to 28.13. On the upside, there is a resistance level at 30.44. A further resistance level may holdings at 30.93. The Relative Strength Index (RSI) on the 14-day chart is 53.66, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.01, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 42.95%. Stochastics %K at 61.89% indicates the stock is a holding.

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