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 $71177.40000000001 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.
As published in a research note from Wolfe Research on December 12, 2024, Otis Worldwide Corp [OTIS] has been rated down from a Peer perform to an Underperform and the price target has been revised to $104. Analysts at Barclays downgraded the stock from ‘”an Equal weight”‘ to ‘”an Underweight”‘ outlook in a report released in early December. Earlier on October 08, 2024, Wolfe Research downgraded its rating. Their new recommendation was “a Peer perform” for OTIS stock which previously was a “an Outperform”.
Analyzing OTIS Stock Performance
During the last five days, there has been a surge of approximately 0.32%. Over the course of the year, Otis Worldwide Corp shares have jumped approximately 5.23%. 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 $99.94, while a 200-day SMA reached $97.48. Nevertheless, trading volume fell to 0.61 million shares from 0.44 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 93.61, which, if violated, would cause prices to drop to 93.07. In the upper region, resistance lies at 94.52. The next price resistance is at 94.89. RSI (Relative Strength Index) is 33.45 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.56, which suggests the price will decrease in the coming days. Percent R is at 83.56%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
