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Volatile ride for ContextLogic Inc. stock price on Wednesday moving between $10.25 and $15.00

StockInvest.us, 5 months ago


The ContextLogic Inc. stock price fell by -8.86% on the last day (Wednesday, 9th Jun 2021) from $11.63 to $10.60. During the day the stock fluctuated 46.34% from a day low at $10.25 to a day high of $15.00. The price has been going up and down for this period, and there has been a 35.2% gain for the last 2 weeks. Volume has increased on the last day by 103 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, 306 million shares were bought and sold for approximately $3.24 billion.

On May 13, 2021 "Stifel Nicolaus" gave "Hold - Reduce" rating for WISH. The price target was changed from $20.00 to $12.00.Over the last 30 days, this security got 1 buy, 0 sell, and 0 hold ratings.

The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $11.46 will firstly indicate a slower falling rate, but may be the first sign of a trend shift.Given the current short-term trend, the stock is expected to fall -47.97% during the next 3 months and, with a 90% probability hold a price between $3.50 and $5.96 at the end of this 3-month period.

ContextLogic Inc.

There are mixed signals in the stock today. The ContextLogic Inc. stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $10.79. On a fall, the stock will find some support from the short-term average at $8.97. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, June 08, 2021, and so far it has fallen -8.86%. 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. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $9.79 and $8.18.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 $9.79. If this is broken, then the next support from accumulated volume will be at $8.18 and $8.11.

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 $4.75 between high and low, or 46.34%. For the last week, the stock has had a daily average volatility of 23.68%.

ContextLogic Inc. holds several negative signals and we believe that 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 Hold/Accumulate to a Sell Candidate candidate.

Check full ContextLogic Inc. forecast and analysis here.