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ContextLogic Inc. stock downgraded to Hold/Accumulate
(Updated on Nov 15, 2021)

No changes to the price of ContextLogic Inc. stock on the last trading day (Monday, 15th Nov 2021). During the day the stock fluctuated 0% from a day low at $5.41 to a day high of $5.41. The price has fallen in 5 of the last 10 days and is down by -0.73% for this period.

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 $5.63 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 -28.87% during the next 3 months and, with a 90% probability hold a price between $2.66 and $4.00 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.

Signals & Forecast
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 $5.29 and $5.25. A breakdown below any of these levels will issue sell signals. 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 Thursday, November 11, 2021, and so far it has fallen -1.10%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss
ContextLogic Inc. finds support from accumulated volume at $5.21 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had a daily average volatility of 8.00%

Our recommended stop-loss: $5.18 (-4.33%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Is ContextLogic Inc. stock A Buy?
ContextLogic Inc. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.789

Predicted Opening Price for ContextLogic Inc. of Tuesday, November 16, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price November 16, 2021
$5.41
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