Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Credo Technology Group Holding Ltd shares valued at $2,232,488 were sold by Cheng Chi Fung on Nov 18 ’24. At $40.59 per share, Cheng Chi Fung sold 55,000 shares. The insider’s holdings dropped to 8,673,602 shares worth approximately $372.7 million following the completion of this transaction.
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Also, Lam Yat Tung sold 120,000 shares, netting a total of over 5,572,147 in proceeds. Following the sale of shares at $46.43 each, the insider now holds 600,000 shares.
Before that, Lam Yat Tung had sold 10,000 shares from its account. In a trade valued at $464,370, the Chief Operating Officer traded Credo Technology Group Holding Ltd shares for $46.44 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $123.01 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 -6.32%. Over the course of the year, Credo Technology Group Holding Ltd shares have jumped approximately 120.70%. Shares of the company reached a 52-week high of $48.94 on 11/11/24 and a 52-week low of $16.82 on 04/19/24. A 50-day SMA is recorded $36.65, while a 200-day SMA reached $27.65. Nevertheless, trading volume fell to 1.98 million shares from 2.21 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 41.95, which, if violated, would cause prices to drop to 40.92. In the upper region, resistance lies at 44.30. The next price resistance is at 45.62. RSI (Relative Strength Index) is 55.06 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.05, which suggests the price will decrease in the coming days. Percent R is at 54.32%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
