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Credo Technology Group Holding Ltd [CRDO] Shares Jump Approximately 130.02% Over the Year

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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 $5,232,107 were sold by TAN LIP BU on Oct 08 ’24. At $33.34 per share, TAN LIP BU sold 156,954 shares. The insider’s holdings dropped to 2,113,725 shares worth approximately $78.72 million following the completion of this transaction.

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Also, TAN LIP BU sold 125,000 shares, netting a total of over 4,538,354 in proceeds. Following the sale of shares at $36.31 each, the insider now holds 1,863,725 shares.

Before that, TAN LIP BU had sold 125,000 shares from its account. In a trade valued at $4,397,512, the Director traded Credo Technology Group Holding Ltd shares for $35.18 each. Upon closing the transaction, the insider’s holdings decreased to 125,000 shares, worth approximately $74.06 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 surge of approximately 20.56%. Over the course of the year, Credo Technology Group Holding Ltd shares have jumped approximately 91.27%. Shares of the company reached a 52-week high of $37.29 on 10/10/24 and a 52-week low of $16.82 on 04/19/24. A 50-day SMA is recorded $30.09, while a 200-day SMA reached $24.60. Nevertheless, trading volume fell to 2.32 million shares from 3.14 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 35.52, which, if violated, would cause prices to drop to 33.81. In the upper region, resistance lies at 38.12. The next price resistance is at 39.01. RSI (Relative Strength Index) is 73.83 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.55, which suggests the price will increase in the coming days. Percent R is at 0.59%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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