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Recent Insider Activity Suggests Potential Gains for Silgan Holdings Inc. (SLGN)

Silgan Holdings Inc.’s recent filing unveils that its Senior Vice President MARTIN JAY A unloaded Company’s shares for reported $1.71 million on May 15 ’24. In the deal valued at $47.27 per share,36,177 shares were sold. As a result of this transaction, MARTIN JAY A now holds 107,984 shares worth roughly $4.46 million.

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Then, Prinzen B Frederik sold 4,093 shares, generating $195,820 in total proceeds. Upon selling the shares at $47.84, the Sr. V.P. – Corp. Dev. now owns 4,520 shares.

Before that, LEWIS ROBERT B sold 30,000 shares. Silgan Holdings Inc. shares valued at $1,412,499 were divested by the EVP, Corp. Dev. & Admin. at a price of $47.08 per share. As a result of the transaction, LEWIS ROBERT B now holds 172,133 shares, worth roughly $7.11 million.

Citigroup downgraded its Silgan Holdings Inc. [SLGN] rating to a Neutral from a a Buy in a research note published on January 03, 2024; the price target was increased to $47 from $44. Robert W. Baird also remained covering SLGN and has increased its forecast on July 27, 2023 with a “an Outperform” recommendation from previously “Neutral” rating. Citigroup revised its rating on April 27, 2023. It rated SLGN as “a Buy” which previously was an “a Neutral”.

Price Performance Review of SLGN

On Friday, Silgan Holdings Inc. [NYSE:SLGN] saw its stock fall -1.34% to $41.32. Over the last five days, the stock has lost -3.53%. Silgan Holdings Inc. shares have fallen nearly -8.69% since the year began. Nevertheless, the stocks have fallen -9.88% over the past one year. While a 52-week high of $49.72 was reached on 04/10/24, a 52-week low of $38.11 was recorded on 07/05/24. SMA at 50 days reached $45.59, while 200 days put it at $44.23. A total of 1.1 million shares were traded, compared to the trading of 0.29 million shares in the previous session.

Levels Of Support And Resistance For SLGN Stock

The 24-hour chart illustrates a support level at 41.05, which if violated will result in even more drops to 40.79. On the upside, there is a resistance level at 41.67. A further resistance level may holdings at 42.03. The Relative Strength Index (RSI) on the 14-day chart is 18.61, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.49, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 94.92%. Stochastics%K at 8.55% indicates the stock is a buying.

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