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Big movements in ContextLogic Inc. stock price on Thursday moving 13.82% between high and low

StockInvest.us, 3 months ago

StockInvest.us

The ContextLogic Inc. stock price gained 0.85% on the last trading day (Thursday, 10th Jun 2021), rising from $10.60 to $10.69. During the day the stock fluctuated 13.82% from a day low at $10.20 to a day high of $11.61. The price has been going up and down for this period, and there has been a 31.17% gain for the last 2 weeks. Volume fell on the last day by -211 million shares and in total, 95 million shares were bought and sold for approximately $1.01 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

On May 13, 2021 "Stifel Nicolaus" gave "Hold - Reduce" rating for WISH. The price target was changed from $20.00 to $12.00.Over the last 30 days, this security got 1 buy, 0 sell, and 0 hold ratings.

The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $11.30 will firstly indicate a slower falling rate, but may be the first sign of a trend shift.Given the current short-term trend, the stock is expected to fall -48.02% during the next 3 months and, with a 90% probability hold a price between $3.42 and $5.87 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

ContextLogic Inc.

There are mixed signals in the stock today. The ContextLogic Inc. stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $10.74. On a fall, the stock will find some support from the short-term average at $9.39. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, June 08, 2021, and so far it has fallen -8.08%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

ContextLogic Inc. finds support from accumulated volume at $10.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.41 between high and low, or 13.82%. For the last week, the stock has had a daily average volatility of 25.23%.

ContextLogic Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Check full ContextLogic Inc. forecast and analysis here.