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Insider Buying: Park Shin Young, MagnaChip Semiconductor Corp [MX] insider invested 9,000 shares

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. MagnaChip Semiconductor Corp shares valued at $50,040 were purchased by Park Shin Young on Mar 12 ’24. At $5.56 per share, Park Shin Young acquired 9,000 shares. The insider’s holdings grew to 77,363 shares worth approximately $0.39 million following the completion of this transaction.

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Also, Kim Theodore S purchased 2,000 shares, netting a total of over 11,100 in proceeds. Following the buying of shares at $5.55 each, the insider now holds 239,116 shares.

Before that, Kim Theodore S had added 5,000 shares to its account. In a trade valued at $28,000, the insider bought MagnaChip Semiconductor Corp shares for $5.60 each. Upon closing the transaction, the insider’s holdings increased to 5,000 shares, worth approximately $1.18 million.

Analysts at Needham resumed the stock at ‘”a Buy”‘ outlook in a report released in mid January. As of January 08, 2021, Oppenheimer has initiated its “an Outperform” rating for MX. Earlier on August 07, 2017, Citigroup resumed its rating. Their recommendation was “a Neutral” for MX stock.

Analyzing MX Stock Performance

During the last five days, there has been a surge of approximately 1.43%. Over the course of the year, MagnaChip Semiconductor Corp shares have dropped approximately -33.60%. Shares of the company reached a 52-week high of $8.16 on 01/02/24 and a 52-week low of $4.70 on 04/25/24. A 50-day SMA is recorded $4.95, while a 200-day SMA reached $6.31. Nevertheless, trading volume fell to 0.17 million shares from 0.29 million shares the previous day.

Support And Resistance Levels for MagnaChip Semiconductor Corp (MX)

According to the 24-hour chart, there is a support level at 4.83, which, if violated, would cause prices to drop to 4.68. In the upper region, resistance lies at 5.06. The next price resistance is at 5.13. RSI (Relative Strength Index) is 53.34 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.04, which suggests the price will decrease in the coming days. Percent R is at 21.05%, indicating bullish price movement. Stochastics%K at holding indicates that the stock is to be held.

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