Context Logic Inc. (NASDAQ:WISH) shares traded higher Monday after the company announced it would be entering a two-year partnership with the e-commerce platform PrestaShop.

Through the partnership, over 300,000 merchants and brands on the PrestaShop platform will be able to reach the millions of consumers on the Wish marketplace.

Context Logic Daily Chart Analysis

• Shares were falling the last few months in a downward trending channel, and now the share price is nearing the resistance of the channel.
• The stock is trading below, but nearing the 50-day moving average, indicating sentiment has been bearish but is looking to start turning bullish.
• The 50-day moving average may hold as an area of resistance until the price is able to cross above the level. 

Key Context Logic Levels To Watch

What’s Next For Context Logic? 

Bullish technical traders would like to see the stock break above resistance. A break above resistance could bring about a strong upward move. Following an upward move, the stock may need to consolidate before another upward push may occur. 

Bearish technical traders would like to see the stock fall below the channel support. If the stock is able to fall below support, it may see a large downward move. Bears would also like to see the RSI fall back below 50.