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. ContextLogic Inc shares valued at $24,642 were sold by Just Brett on May 16 ’24. At $5.64 per share, Just Brett sold 4,369 shares. The insider’s holdings dropped to 16,701 shares worth approximately $94694.67 following the completion of this transaction.
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Also, Forster Joanna sold 16,394 shares, netting a total of over 89,331 in proceeds. Following the sale of shares at $5.45 each, the insider now holds 39,046 shares.
Before that, Forster Joanna had sold 9,954 shares from its account. In a trade valued at $53,493, the General Counsel & CCO traded ContextLogic Inc shares for $5.37 each. Upon closing the transaction, the insider’s holdings decreased to 9,954 shares, worth approximately $0.16 million.
As published in a research note from Citigroup on November 09, 2023, ContextLogic Inc [LOGC] has been rated up from a Sell to a Neutral and the price target has been revised to $5.50 from $5. Analysts at Loop Capital upgraded the stock from ‘”a Sell”‘ to ‘”a Hold”‘ outlook in a report released in early November. As of June 29, 2023, Loop Capital has decreased its “Hold” rating to a “Sell” for LOGC. Earlier on December 13, 2022, Citigroup initiated its rating. Their recommendation was “a Sell” for LOGC stock.
Analyzing LOGC Stock Performance
During the last five days, there has been a surge of approximately 5.78%. Over the course of the year, ContextLogic Inc shares have dropped approximately -4.71%. Shares of the company reached a 52-week high of $6.95 on 02/20/24 and a 52-week low of $4.01 on 01/17/24. A 50-day SMA is recorded $5.40, while a 200-day SMA reached $5.53. Nevertheless, trading volume fell to 0.75 million shares from 0.2 million shares the previous day.
Support And Resistance Levels for ContextLogic Inc (LOGC)
According to the 24-hour chart, there is a support level at 5.49, which, if violated, would cause prices to drop to 5.30. In the upper region, resistance lies at 5.81. The next price resistance is at 5.95. RSI (Relative Strength Index) is 65.86 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.14, which suggests the price will decrease in the coming days. Percent R is at 14.73%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
