Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Otis Worldwide Corp shares valued at $569,159 were sold by Ryan Michael Patrick on Nov 08 ’24. At $100.95 per share, Ryan Michael Patrick sold 5,638 shares. The insider’s holdings dropped to 756 shares worth approximately $76454.28 following the completion of this transaction.
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Also, Luersman Abbe sold 9,000 shares, netting a total of over 909,209 in proceeds. Following the sale of shares at $101.02 each, the insider now holds 9,992 shares.
Before that, Michael Ryan had added 5,638 shares to its account. In a trade valued at $569,000, the Officer bought Otis Worldwide Corp shares for $100.92 each.
Analysts at Wolfe Research downgraded the stock from ‘”an Outperform”‘ to ‘”a Peer perform”‘ outlook in a report released in early October. As of September 06, 2024, Morgan Stanley has initiated its “an Equal-weight” rating for OTIS. Earlier on April 02, 2024, Melius initiated its rating. Their recommendation was “a Hold” for OTIS stock.
Analyzing OTIS Stock Performance
During the last five days, there has been a drop of approximately -0.82%. Over the course of the year, Otis Worldwide Corp shares have jumped approximately 13.03%. Shares of the company reached a 52-week high of $106.33 on 10/17/24 and a 52-week low of $85.42 on 01/17/24. A 50-day SMA is recorded $102.02, while a 200-day SMA reached $97.36. Nevertheless, trading volume fell to 1.21 million shares from 1.18 million shares the previous day.
Support And Resistance Levels for Otis Worldwide Corp (OTIS)
According to the 24-hour chart, there is a support level at 100.49, which, if violated, would cause prices to drop to 99.85. In the upper region, resistance lies at 101.61. The next price resistance is at 102.09. RSI (Relative Strength Index) is 50.02 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.29, which suggests the price will decrease in the coming days. Percent R is at 46.05%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
