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High volatility in ContextLogic Inc. stock price on Tuesday which ended trading at $13.50

StockInvest.us, 5 months ago

StockInvest.us

No changes to the price of ContextLogic Inc. stock on the last trading day (Tuesday, 22nd Jun 2021). During the day the stock fluctuated 11.69% from a day low at $12.92 to a day high of $14.43. The price has risen in 5 of the last 10 days and is up by 16.08% over the past 2 weeks.

On May 13, 2021 "Stifel Nicolaus" gave "Hold - Reduce" rating for WISH. The price target was changed from $20.00 to $12.00.

The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $13.40, a level that may pose a second chance to hit a runner. According to fan-theory $20.62 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

ContextLogic Inc.

The ContextLogic Inc. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $11.89 and $10.20. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, June 21, 2021, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.

On the downside, the stock finds support just below today's level from accumulated volume at $11.63 and $11.27.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 $11.63. If this is broken, then the next support from accumulated volume will be at $11.27 and $10.60.

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 $1.51 between high and low, or 11.69%. For the last week, the stock has had a daily average volatility of 12.18%.

ContextLogic Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Check full ContextLogic Inc. forecast and analysis here.