The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Credo Technology Group Holding Ltd shares valued at $4,174,458 were sold by Cheng Chi Fung on Jan 14 ’25. At $69.57 per share, Cheng Chi Fung sold 60,000 shares. The insider’s holdings dropped to 8,328,602 shares worth approximately $629.64 million following the completion of this transaction.
Also, TAN LIP BU sold 150,000 shares, netting a total of over 10,903,579 in proceeds. Following the sale of shares at $72.69 each, the insider now holds 963,725 shares.
Before that, WALDEN TECHNOLOGY VENTURES II had added 150,000 shares to its account. In a trade valued at $10,903,500, the Director bought Credo Technology Group Holding Ltd shares for $72.69 each.
As published in their initiating research note from Susquehanna on December 17, 2024, Credo Technology Group Holding Ltd [CRDO] has been a Neutral and the price target has been revised to $80. Analysts at BofA Securities upgraded the stock from ‘”an Underperform”‘ to ‘”a Buy”‘ outlook in a report released in early December. As of December 03, 2024, TD Cowen has reiterated its “Buy” rating for CRDO. Earlier on December 03, 2024, Needham resumed its rating. Their recommendation was “a Buy” for CRDO stock.
Analyzing CRDO Stock Performance
During the last five days, there has been a surge of approximately 3.53%. Over the course of the year, Credo Technology Group Holding Ltd shares have jumped approximately 12.48%. Shares of the company reached a 52-week high of $78.80 on 01/06/25 and a 52-week low of $65.53 on 01/02/25. A 50-day SMA is recorded $60.56, while a 200-day SMA reached $35.96. Nevertheless, trading volume fell to 3.8 million shares from 4.45 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 74.43, which, if violated, would cause prices to drop to 73.27. In the upper region, resistance lies at 77.61. The next price resistance is at 79.63. RSI (Relative Strength Index) is 60.61 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.37, which suggests the price will increase in the coming days. Percent R is at 24.11%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
