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Stronger technical forecast for ContextLogic Inc. stock price after Wednesday trading.

StockInvest.us, 1 year ago


The ContextLogic Inc. stock price gained 0.81% on the last trading day (Wednesday, 23rd Jun 2021), rising from $13.50 to $13.61. During the day the stock fluctuated 8.84% from a day low at $13.12 to a day high of $14.28. The price has risen in 6 of the last 10 days and is up by 28.4% over the past 2 weeks. Volume fell on the last day by -89 million shares and in total, 141 million shares were bought and sold for approximately $1.92 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.

Given the current short-term trend, the stock is expected to fall -30.78% during the next 3 months and, with a 90% probability hold a price between $4.29 and $9.42 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.


Mostly positive signals in the chart today. 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 $12.23 and $10.21. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 01, 2021, and so far it has risen 75.84%. Further rise is indicated until a new top 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 $13.50 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 $1.16 between high and low, or 8.84%. For the last week, the stock has had a daily average volatility of 12.06%.

The ContextLogic Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

ContextLogic Inc. holds several positive signals and despite the stock being in a falling trend, we considered it to be a good choice at these current levels. We expect ContextLogic Inc. stock will perform very well in the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.

Check full ContextLogic forecast and analysis here.