Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Edison International shares valued at $757,996 were sold by Choi Caroline on Jun 05 ’24. At $75.77 per share, Choi Caroline sold 10,004 shares. The insider’s holdings dropped to 26,918 shares worth approximately $2.06 million following the completion of this transaction.
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Also, Murphy J Andrew sold 45,012 shares, netting a total of over 3,382,274 in proceeds. Following the sale of shares at $75.14 each, the insider now holds 19,660 shares.
Before that, Murphy J Andrew had sold 9,794 shares from its account. In a trade valued at $735,277, the PRESIDENT & CEO, EDISON ENERGY traded Edison International shares for $75.07 each. Upon closing the transaction, the insider’s holdings decreased to 9,794 shares, worth approximately $1.5 million.
As published in a research note from UBS on July 19, 2024, Edison International [EIX] has been rated down from a Buy to a Neutral and the price target has been revised to $82 from $83. Analysts at Goldman started covering the stock with ‘”a Neutral”‘ outlook in a report released in early April. As of January 22, 2024, Guggenheim has increased its “Neutral” rating to a “Buy” for EIX. Earlier on October 23, 2023, Evercore ISI upgraded its rating. Their new recommendation was “an Outperform” for EIX stock which previously was a “an In-line”.
Analyzing EIX Stock Performance
During the last five days, there has been a surge of approximately 1.78%. Over the course of the year, Edison International shares have jumped approximately 6.91%. Shares of the company reached a 52-week high of $77.59 on 07/25/24 and a 52-week low of $63.15 on 02/13/24. A 50-day SMA is recorded $73.94, while a 200-day SMA reached $69.48. Nevertheless, trading volume fell to 1.94 million shares from 1.38 million shares the previous day.
Support And Resistance Levels for Edison International (EIX)
According to the 24-hour chart, there is a support level at 75.90, which, if violated, would cause prices to drop to 75.36. In the upper region, resistance lies at 77.28. The next price resistance is at 78.12. RSI (Relative Strength Index) is 65.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.59, which suggests the price will increase in the coming days. Percent R is at 18.47%, indicating bullish price movement. Stochastics%K at selling indicates that the stock is to be held.
