Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Flex Ltd shares valued at $255,168 were sold by Tan Kwang Hooi on Jul 29 ’24. At $31.78 per share, Tan Kwang Hooi sold 8,028 shares. The insider’s holdings dropped to 175,468 shares worth approximately $5.55 million following the completion of this transaction.
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Also, Tan Kwang Hooi purchased 8,028 shares, netting a total of over 258,100 in proceeds.
Before that, WENDLER DANIEL had sold 1,275 shares from its account. In a trade valued at $39,908, the Chief Accounting Officer traded Flex Ltd shares for $31.30 each. Upon closing the transaction, the insider’s holdings decreased to 1,275 shares, worth approximately $1.03 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 surge of approximately 9.03%. Over the course of the year, Flex Ltd shares have jumped approximately 42.85%. 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 $30.52, while a 200-day SMA reached $28.23. Nevertheless, trading volume fell to 2.45 million shares from 2.35 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 31.10, which, if violated, would cause prices to drop to 30.54. In the upper region, resistance lies at 32.03. The next price resistance is at 32.41. RSI (Relative Strength Index) is 58.20 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.83, which suggests the price will decrease in the coming days. Percent R is at 15.84%, indicating bullish price movement. Stochastics%K at holding indicates that the stock is to be held.
