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Taking a look at what insiders are doing to gauge the East West Bancorp, Inc. (EWBC)’s direction

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The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. East West Bancorp, Inc. shares valued at $590,050 were sold by KRAUSE DOUGLAS PAUL on May 28 ’24. At $73.76 per share, KRAUSE DOUGLAS PAUL sold 8,000 shares. The insider’s holdings dropped to 57,403 shares worth approximately $4.08 million following the completion of this transaction.

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Also, Oh Irene H sold 10,000 shares, netting a total of over 775,800 in proceeds. Following the sale of shares at $77.58 each, the insider now holds 127,193 shares.

Before that, CAMPBELL MOLLY had sold 1,625 shares from its account. In a trade valued at $125,548, the Director traded East West Bancorp, Inc. shares for $77.26 each. Upon closing the transaction, the insider’s holdings decreased to 1,625 shares, worth approximately $0.73 million.

As published in their initiating research note from Barclays on March 08, 2024, East West Bancorp, Inc. [EWBC] has been an Overweight and the price target has been revised to $106. Analysts at Stephens started covering the stock with ‘”an Overweight”‘ outlook in a report released in early December. As of December 04, 2023, Morgan Stanley has increased its “an Equal-weight” rating to a “an Overweight” for EWBC. Earlier on December 01, 2023, Citigroup initiated its rating. Their recommendation was “a Buy” for EWBC stock.

Analyzing EWBC Stock Performance

During the last five days, there has been a drop of approximately -0.82%. Over the course of the year, East West Bancorp, Inc. shares have dropped approximately -1.14%. Shares of the company reached a 52-week high of $79.54 on 04/01/24 and a 52-week low of $67.27 on 02/07/24. A 50-day SMA is recorded $74.13, while a 200-day SMA reached $67.58. Nevertheless, trading volume fell to 0.6 million shares from 0.48 million shares the previous day.

Support And Resistance Levels for East West Bancorp, Inc. (EWBC)

According to the 24-hour chart, there is a support level at 70.69, which, if violated, would cause prices to drop to 70.26. In the upper region, resistance lies at 71.45. The next price resistance is at 71.78. RSI (Relative Strength Index) is 42.46 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.39, which suggests the price will decrease in the coming days. Percent R is at 61.09%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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