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Scilex Holding Company [SCLX] insider makes an insider purchase of 56,939 shares worth 52099.0.

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. Scilex Holding Company shares valued at $52,099 were purchased by SHAH JAISIM on May 17 ’24. At $0.92 per share, SHAH JAISIM acquired 56,939 shares. The insider’s holdings grew to 155,882 shares worth approximately $0.29 million following the completion of this transaction.

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Also, Chun Jay purchased 57,500 shares, netting a total of over 51,641 in proceeds. Following the buying of shares at $0.90 each, the insider now holds 102,500 shares.

Before that, Ji Henry had added 50,000 shares to its account. In a trade valued at $43,985, the Executive Chairperson bought Scilex Holding Company shares for $0.88 each. Upon closing the transaction, the insider’s holdings increased to 50,000 shares, worth approximately $92128.8.

As published in their initiating research note from Rodman & Renshaw on June 13, 2024, Scilex Holding Company [SCLX] has been a Buy and the price target has been revised to $13. Analysts at B. Riley Securities started covering the stock with ‘”a Buy”‘ outlook in a report released in mid October. As of October 13, 2023, B. Riley Securities has initiated its “Buy” rating for SCLX. Earlier on October 09, 2023, H.C. Wainwright initiated its rating. Their recommendation was “a Buy” for SCLX stock.

Analyzing SCLX Stock Performance

During the last five days, there has been a surge of approximately 22.68%. Over the course of the year, Scilex Holding Company shares have dropped approximately -9.79%. Shares of the company reached a 52-week high of $2.6300 on 02/29/24 and a 52-week low of $0.7316 on 05/10/24. A 50-day SMA is recorded $1.2142, while a 200-day SMA reached $1.4649. Nevertheless, trading volume fell to 7.85 million shares from 2.31 million shares the previous day.

Support And Resistance Levels for Scilex Holding Company (SCLX)

According to the 24-hour chart, there is a support level at 1.6433, which, if violated, would cause prices to drop to 1.4867. In the upper region, resistance lies at 2.0933. The next price resistance is at 2.3867. RSI (Relative Strength Index) is 59.14 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0925, which suggests the price will decrease in the coming days. Percent R is at 58.14%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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