In the meantime, JP Morgan downgraded its Chegg Inc [CHGG] rating to an Underweight from a a Neutral in a research note published recently. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who decreased its forecast for the stock in mid January from “an Equal-weight” to “an Underweight”. Goldman also remained covering CHGG and has increased its forecast on August 06, 2024 with a “Neutral” recommendation from previously “Sell” rating. Morgan Stanley revised its rating on July 16, 2024. It rated CHGG as “an Equal-weight” which previously was an “an Underweight”.
Price Performance Review of CHGG
On Tuesday, Chegg Inc [NYSE:CHGG] saw its stock fall -1.06% to $0.72. Over the last five days, the stock has gained 7.32%. Chegg Inc shares have fallen nearly -54.99% since the year began. Nevertheless, the stocks have fallen -86.09% over the past one year. While a 52-week high of $5.32 was reached on 01/07/25, a 52-week low of $0.44 was recorded on 04/11/25. SMA at 50 days reached $0.7069, while 200 days put it at $1.6212.
Levels Of Support And Resistance For CHGG Stock
The 24-hour chart illustrates a support level at 0.7078, which if violated will result in even more drops to 0.6908. On the upside, there is a resistance level at 0.7394. A further resistance level may holdings at 0.7540. The Relative Strength Index (RSI) on the 14-day chart is 58.21, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.0950, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 12.56%. Stochastics %K at 92.53% indicates the stock is a selling.
