Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Credo Technology Group Holding Ltd shares valued at $6,694,600 were purchased by CHENG HUANG FAMILY TRUST on Oct 03 ’24. At $30.43 per share, CHENG HUANG FAMILY TRUST acquired 220,000 shares.
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Also, WALDEN TECHNOLOGY INVESTORS II purchased 125,000 shares, netting a total of over 3,882,875 in proceeds.
Before that, TAN LIP BU had sold 150,000 shares from its account. In a trade valued at $4,574,760, the Director traded Credo Technology Group Holding Ltd shares for $30.50 each. Upon closing the transaction, the insider’s holdings decreased to 150,000 shares, worth approximately $81.51 million.
As published in a research note from TD Cowen on July 15, 2024, Credo Technology Group Holding Ltd [CRDO] has been retained to a Buy and the price target has been revised to $40. Analysts at TD Cowen upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late June. As of February 28, 2024, TD Cowen has reiterated its “Market perform” rating for CRDO. Earlier on November 30, 2023, TD Cowen resumed its rating. Their recommendation was “a Market perform” for CRDO stock.
Analyzing CRDO Stock Performance
During the last five days, there has been a drop of approximately -1.09%. Over the course of the year, Credo Technology Group Holding Ltd shares have jumped approximately 58.65%. Shares of the company reached a 52-week high of $36.80 on 08/23/24 and a 52-week low of $16.82 on 04/19/24. A 50-day SMA is recorded $29.43, while a 200-day SMA reached $24.23. Nevertheless, trading volume fell to 2.27 million shares from 1.72 million shares the previous day.
Support And Resistance Levels for Credo Technology Group Holding Ltd (CRDO)
According to the 24-hour chart, there is a support level at 29.81, which, if violated, would cause prices to drop to 28.74. In the upper region, resistance lies at 32.21. The next price resistance is at 33.54. RSI (Relative Strength Index) is 55.28 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.82, which suggests the price will decrease in the coming days. Percent R is at 28.55%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
