ContextLogic Inc. stock price fell more than -5.96% Wednesday closing at $9.78StockInvest.us, 4 months ago
The ContextLogic Inc. stock price fell by -5.96% on the last day (Wednesday, 14th Jul 2021) from $10.40 to $9.78. and has now fallen 4 days in a row. During the day the stock fluctuated 8.52% from a day low at $9.74 to a day high of $10.57. The price has fallen in 7 of the last 10 days and is down by -27.01% for this period. Volume has increased on the last day by 11 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 48 million shares were bought and sold for approximately $470.16 million.
Credit Suisse Group is very positive about WISH and gave it a "Outperform" rating on May 13, 2021. The price target was changed from $31.00 to $24.00.Over the last 30 days, this security got 1 buy, 0 sell, and 0 hold ratings.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -7.35% during the next 3 months and, with a 90% probability hold a price between $6.67 and $13.16 at the end of this 3-month period.
There are few to no technical positive signals at the moment. The ContextLogic Inc. stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $10.87 and $10.91. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 28, 2021, and so far it has fallen -32.08%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
On the downside, the stock finds support just below today's level from accumulated volume at $8.18 and $8.11.There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, ContextLogic Inc. finds support just below today's level at $8.18. If this is broken, then the next support from accumulated volume will be at $8.11 and $7.76.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.83 between high and low, or 8.52%. For the last week, the stock has had a daily average volatility of 7.09%.
ContextLogic Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.Check full ContextLogic Inc. forecast and analysis here.