ContextLogic Stock Forecast
ContextLogic stock price ended at $5.82 on Wednesday, after losing 2.84%.
(Updated on Apr 24, 2024)
The ContextLogic stock price fell by -2.84% on the last day (Wednesday, 24th Apr 2024) from $5.99 to $5.82. During the last trading day the stock fluctuated 4.89% from a day low at $5.73 to a day high of $6.01. The price has been going up and down for this period, and there has been a 6.2% gain for the last 2 weeks. 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 thousand shares and in total, 552 thousand shares were bought and sold for approximately $3.21 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.85% during the next 3 months and, with a 90% probability hold a price between $4.95 and $7.73 at the end of this 3-month period.
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WISH Signals & Forecast
The ContextLogic stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $5.61 and $5.73. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month 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 Tuesday, February 20, 2024, and so far it has fallen -15.59%. 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.
Support, Risk & Stop-loss for ContextLogic stock
ContextLogic finds support from accumulated volume at $5.74 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.280 between high and low, or 4.89%. For the last week, the stock has had daily average volatility of 7.30%.
Our recommended stop-loss: $5.47 (-6.02%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 45 days ago.)
Trading Expectations (WISH) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect ContextLogic Inc. to open at $5.85, and during the day (based on 14 day Average True Range), to move between $5.54 and $6.10, which gives a possible trading interval of +/-$0.281 (+/-4.83%) up or down from last closing price. If ContextLogic Inc. takes out the full calculated possible swing range there will be an estimated 9.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.74 (1.37%) than the resistance at $6.26 (7.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
ContextLogic will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is -$1.58. We will update the financials statements for ContextLogic, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.27% in the first trading day after earnings release.
Is ContextLogic Inc. stock A Buy?
ContextLogic 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.
Current score: 0.459 Hold/Accumulate Unchanged
Predicted Opening Price for ContextLogic Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $5.85 ( 0.515%) | $5.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WISH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.13 | 5.33 % | |
| R2 | 6.02 | 3.49 % | ||
| R1 | 5.96 | 2.35 % | ||
| Current price: | 5.82 | |||
| Support | S1 | 5.74 | -1.32 % | |
| S2 | 5.68 | -2.46 % | ||
| S3 | 5.57 | -4.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.53 | 12.20 % | |
| R2 | 6.48 | 11.34 % | ||
| R1 | 6.26 | 7.56 % | ||
| Current price | 5.82 | |||
| Support | S1 | 5.74 | -1.37% | |
| S2 | 5.55 | -4.64% | ||
| S3 | 5.00 | -14.09% |
FAQ
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