Technicals Say ContextLogic Inc. (WISH) Is Worth Holding


As of Wednesday close, ContextLogic Inc.’s (NASDAQ:WISH) stock was up $0.02, moving up 2.51 percent to $0.70. The average number of shares traded per day over the past five days has been 20,555,320 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.0488 fall in that time frame. In the last twenty days, the average volume was 19,345,166, while in the previous 50 days, it was 21,317,881.

Since last month, WISH stock retreated -9.08%. Shares of the company fell to $0.6258 on 11/09/22, the lowest level in the past month. A 52-week high of $4.19 was reached on 01/03/22 after having rallying from a 52-week low of $0.63. Since the beginning of this year, WISH’s stock price has dropped by -77.59% or -$2.4129, and marked a new high 1 time. However, the stock has declined by -83.36% since its 52-week high.

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WISH stock investors should be aware that ContextLogic Inc. (WISH) stock had its last reported insider trading activity 23 days ago on Nov 02. Jain Tarun Kumar, the Chief Product Officer of the company, disposed of 88,000 shares for $0.74 on Nov 02. It resulted in a $65,375 divestment by the insider. Szulczewski Piotr sold 2,726,819 shares at an average price of $0.72 on Oct 28. The insider now owns 26,730,644 shares following the transaction. On Oct 27, 10% Owner Szulczewski Piotr sold 2,041,160 shares at $0.76 apiece. The transaction was valued at $1,550,669.

Financial Health

In the three months ended September 29, ContextLogic Inc.’s quick ratio stood at 2.70, while its current ratio was 2.70, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 35.30% percent. In the year ended September 29, operating margins totaled -46.80%. Based on annual data, WISH earned $1.11 billion in gross profit and brought in $2.08 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -46.10%. Return on equity (ROE) for the past 12 months was -46.90%.

According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. WISH’s revenue fell -194.4% to $134.0 million during the quarter, while net income inched up to $125.0 million. While analysts expected ContextLogic Inc. to report -$0.2 quarterly earnings, the actual figure was -$0.18 per share. During the quarter, the company generated -$127.0 million in EBITDA. The liabilities of ContextLogic Inc. were 337.0 million at the end of its most recent quarter ended September 29, and its total debt was $18.0 million. The value of shareholders’ equity is $677.0 million.

Technical Picture

This quick technical analysis looks at ContextLogic Inc.’s (WISH) price momentum. With a historical volatility rate of 100.73%, the RSI 9-day stood at 45.67% on 23 November.

With respect to its five-day moving average, the current ContextLogic Inc. price is down by -6.54% percent or -$0.0488. At present, WISH shares trade -9.41% below its 20-day simple moving average and -60.39% percent below its 100-day simple moving average. However, the stock is currently trading approximately -36.63% below its SMA50 and -70.21% below its SMA200.

Stochastic coefficient K was 27.16% and Stochastic coefficient D was 26.80%, while ATR was 0.0672. Given the Stochastic reading of 30.44% for the 14-day period, the RSI (14) reading has been calculated as 44.86%. As of today, the MACD Oscillator reading stands at -0.0450, while the 14-day reading stands at -0.0246.

Analyst Ratings

ContextLogic Inc. downgraded its rating on ContextLogic Inc. (NASDAQ: WISH) to a Hold in a note to investors on March 22, 2022. The analysts firm previously had a Buy rating on the stock.


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