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Volatile ride for ContextLogic Inc. stock price on Friday moving between $6.69 and $7.86

StockInvest.us, 1 month ago

StockInvest.us

The ContextLogic Inc. stock price fell by -19.77% on the last day (Friday, 13th Aug 2021) from $9.41 to $7.55. and has now fallen 5 days in a row. During the day the stock fluctuated 17.49% from a day low at $6.69 to a day high of $7.86. The price has fallen in 7 of the last 10 days and is down by -24.04% for this period. Volume has increased on the last day by 166 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, 220 million shares were bought and sold for approximately $1.66 billion.

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 4.93% during the next 3 months and, with a 90% probability hold a price between $7.92 and $15.49 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 $9.62 and $10.53. 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 -47.57%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

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 has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.17 between high and low, or 17.49%. For the last week, the stock has had a daily average volatility of 9.15%.

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.

Check full ContextLogic Inc. forecast and analysis here.