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. Flex Ltd shares valued at $258,100 were purchased by Tan Kwang Hooi on Jul 29 ’24. At $32.15 per share, Tan Kwang Hooi acquired 8,028 shares.
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Also, Tan Kwang Hooi sold 8,028 shares, netting a total of over 255,168 in proceeds. Following the sale of shares at $31.78 each, the insider now holds 175,468 shares.
Before that, Advaithi Revathi had sold 37,170 shares from its account. In a trade valued at $1,163,421, the Chief Executive Officer traded Flex Ltd shares for $31.30 each. Upon closing the transaction, the insider’s holdings decreased to 37,170 shares, worth approximately $63.1 million.
As published in a research note from Craig Hallum on July 25, 2024, Flex Ltd [FLEX] has been rated up from a Hold to a Buy and the price target has been revised to $39. Analysts at Craig Hallum downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early May. As of September 07, 2023, Barclays has initiated its “an Overweight” rating for FLEX.
Analyzing FLEX Stock Performance
During the last five days, there has been a drop of approximately -0.87%. Over the course of the year, Flex Ltd shares have jumped approximately 38.42%. 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 $31.16, while a 200-day SMA reached $28.00. Nevertheless, trading volume fell to 3.03 million shares from 3.53 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 29.96, which, if violated, would cause prices to drop to 29.26. In the upper region, resistance lies at 31.97. The next price resistance is at 33.28. RSI (Relative Strength Index) is 49.61 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.56, which suggests the price will decrease in the coming days. Percent R is at 63.13%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.
