Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Truist Financial Corporation shares valued at $141,084 were sold by Boyer K. David Jr. on Mar 07 ’24. At $37.48 per share, Boyer K. David Jr. sold 3,764 shares. The insider’s holdings dropped to 16,132 shares worth approximately $0.6 million following the completion of this transaction.
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Also, ROGERS WILLIAM H JR purchased 10,000 shares, netting a total of over 280,480 in proceeds. Following the buying of shares at $28.05 each, the insider now holds 412,924 shares.
As of April 23, 2024, Compass Point has increased its “Neutral” rating to a “Buy” for TFC. Earlier on March 19, 2024, Stephens upgraded its rating. Their new recommendation was “an Overweight” for TFC stock which previously was a “an Equal-weight”.
Analyzing TFC Stock Performance
During the last five days, there has been a surge of approximately 0.88%. Over the course of the year, Truist Financial Corporation shares have dropped approximately -0.08%. Shares of the company reached a 52-week high of $40.51 on 05/17/24 and a 52-week low of $34.23 on 02/13/24. A 50-day SMA is recorded $37.73, while a 200-day SMA reached $34.72. Nevertheless, trading volume fell to 7.31 million shares from 6.68 million shares the previous day.
Support And Resistance Levels for Truist Financial Corporation (TFC)
According to the 24-hour chart, there is a support level at 36.64, which, if violated, would cause prices to drop to 36.39. In the upper region, resistance lies at 37.11. The next price resistance is at 37.34. RSI (Relative Strength Index) is 48.28 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.70, which suggests the price will decrease in the coming days. Percent R is at 29.80%, indicating bullish price movement. Stochastics%K at holding indicates that the stock is to be held.
