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Is ContextLogic Inc. stock still a buy after falling -9.01% on Monday ?

StockInvest.us, 5 months ago

StockInvest.us

The ContextLogic Inc. stock price fell by -9.01% on the last day (Monday, 16th Aug 2021) from $7.55 to $6.87. and has now fallen 6 days in a row. During the day the stock fluctuated 8.78% from a day low at $6.72 to a day high of $7.31. The price has fallen in 8 of the last 10 days and is down by -34.01% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -143 million shares and in total, 77 million shares were bought and sold for approximately $529.26 million.

On August 13, 2021 "Stifel Nicolaus" gave "$12.00 - $8.00" rating for WISH. The price target was changed from $6.80 to 27.7%.

Given the current short-term trend, the stock is expected to rise 2.35% during the next 3 months and, with a 90% probability hold a price between $7.03 and $14.92 at the end of this 3-month period.

ContextLogic Inc.

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. 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 $9.18 and $10.33. 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 -52.29%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 $0.59 between high and low, or 8.78%. For the last week, the stock has had a daily average volatility of 9.46%.

The ContextLogic Inc. stock holds several negative signals and despite the positive trend, we believe ContextLogic Inc. will perform weakly in the next couple of days or weeks. Therefore, we 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.