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- WISH stock price closed at $0.39 on March 24 Friday, which is a 2.52% decline in its last trading day session.
- WISH stock declined nearly 2% this week and closed at the lowest trading price on the weekend.
ContextLogic (WISH) stock price underperformed on Friday’s trading day session as compared to its competitors. The stock opened at $0.39, noted a high at $0.40 while low was at $0.38, which is it’s all-time low. Meanwhile, the related stocks, such as Alibaba Group Holding Ltd (NYSE: ADR) and eBay Inc (NASDAQ: EBAY) surged 0.44% and 0.49% in the last 24-hours. The closing price of WISH stock is near its 52-weeks low, as it was at $0.38 while its 52-week high was at $2.58, according to the data sourced from Tradingview.
ContextLogic Inc. (NASDAQ: WISH) is an online e-commerce platform. This 2010-founded e-commerce platform is based in San Francisco. It personalizes shopping experience visually for its customers. In just one month, WISH stock price dropped 43% while year-to-date (YTD) decline is near 20%. Moreover, in one year, its share price dropped almost 83% and 98% from its all-time high.
WISH Stock Price Analysis
WISH stock price touched its 52-week low, and slipped below from its significant moving averages showing bearishness. Buyers tried to maintain the support, but due to huge selling pressure, WISH stock didn’t seem to sustain for a long time. The price action shows that the stock is hovering near the demand zone and rise. Thus, the stock needs to bounce in the coming trading session which clearly requires the support from buyers.
The RSI at 36.20 shows sellers’ dominance that seems unable to reach a higher range. Moreover, the MACD also forms a negative crossover and indicates a negative outlook among existing investors.
WISH stock showing the selling pressure as the recent price action shows selling in stock and buyers losing momentum indicating a downward trend. Now, the stock has to take a bounce and move upside which requires buyer’s dominance. If bulls get their muscles activated and show dominance, then the stock must take the effort to reach at its 20-day EMA. However, reaching that resistance level will be quite tough for it, still this stock really demands for a bullish opening in its upcoming trading sessions.
Conclusion
Overall, the current market scenario for WISH stock suggests the bears are highly active. As the stock already recorded its 52-week low. WISH stock started declining after the release of its earnings report on March 23.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
