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FLEX Stock Sees Decline of Approximately -1.09% in Last Five Days

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Flex Ltd shares valued at $1,163,421 were sold by Advaithi Revathi on Jun 17 ’24. At $31.30 per share, Advaithi Revathi sold 37,170 shares. The insider’s holdings dropped to 2,057,473 shares worth approximately $61.66 million following the completion of this transaction.

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Also, Tan Kwang Hooi sold 13,451 shares, netting a total of over 420,998 in proceeds. Following the sale of shares at $31.30 each, the insider now holds 183,496 shares.

Before that, Lundstrom Paul had sold 7,895 shares from its account. In a trade valued at $247,102, the Chief Financial Officer traded Flex Ltd shares for $31.30 each. Upon closing the transaction, the insider’s holdings decreased to 7,895 shares, worth approximately $10.4 million.

As published in a research note from Craig Hallum on May 02, 2024, Flex Ltd [FLEX] has been rated down from a Buy to a Hold and the price target has been revised to $27. Analysts at Barclays started covering the stock with ‘”an Overweight”‘ outlook in a report released in early September. Earlier on August 17, 2022, Credit Suisse initiated its rating. Their recommendation was “an Outperform” for FLEX stock.

Analyzing FLEX Stock Performance

During the last five days, there has been a drop of approximately -1.09%. Over the course of the year, Flex Ltd shares have jumped approximately 35.26%. Shares of the company reached a 52-week high of $34.12 on 05/30/24 and a 52-week low of $21.84 on 01/17/24. A 50-day SMA is recorded $30.43, while a 200-day SMA reached $27.57. Nevertheless, trading volume fell to 2.17 million shares from 2.57 million shares the previous day.

Support And Resistance Levels for Flex Ltd (FLEX)

According to the 24-hour chart, there is a support level at 29.59, which, if violated, would cause prices to drop to 29.07. In the upper region, resistance lies at 30.44. The next price resistance is at 30.78. RSI (Relative Strength Index) is 43.72 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.78, which suggests the price will decrease in the coming days. Percent R is at 69.61%, indicating low price movement. Stochastics %K at buying indicates that the stock is to be held.

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