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A company insider recently sold 149,693 shares of GigaCloud Technology Inc [GCT]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. GigaCloud Technology Inc shares valued at $4,518,733 were sold by Lin Frank Hurst on Jun 28 ’24. At $30.19 per share, Lin Frank Hurst sold 149,693 shares. The insider’s holdings dropped to 4,069,889 shares worth approximately $129.54 million following the completion of this transaction.

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Also, Lin Frank Hurst sold 93,211 shares, netting a total of over 2,764,982 in proceeds. Following the sale of shares at $29.66 each, the insider now holds 4,219,582 shares.

Before that, SCHROCK IMAN AJ had sold 5,000 shares from its account. In a trade valued at $151,061, the President traded GigaCloud Technology Inc shares for $30.21 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $0.8 million.

As published in their initiating research note from Maxim Group on May 22, 2024, GigaCloud Technology Inc [GCT] has been a Buy and the price target has been revised to $69. Analysts at ROTH MKM started covering the stock with ‘”a Buy”‘ outlook in a report released in mid June. As of October 03, 2022, Aegis Capital has initiated its “Buy” rating for GCT.

Analyzing GCT Stock Performance

During the last five days, there has been a surge of approximately 8.15%. Over the course of the year, GigaCloud Technology Inc shares have jumped approximately 73.98%. Shares of the company reached a 52-week high of $45.18 on 03/15/24 and a 52-week low of $17.41 on 01/03/24. A 50-day SMA is recorded $33.09, while a 200-day SMA reached $23.59. Nevertheless, trading volume fell to 0.8 million shares from 1.15 million shares the previous day.

Support And Resistance Levels for GigaCloud Technology Inc (GCT)

According to the 24-hour chart, there is a support level at 31.46, which, if violated, would cause prices to drop to 31.03. In the upper region, resistance lies at 32.37. The next price resistance is at 32.85. RSI (Relative Strength Index) is 52.37 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.33, which suggests the price will increase in the coming days. Percent R is at 27.45%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

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