Traders Are Focused On This Critical Level For ContextLogic Stock

In the stock market, certain price levels are more important than others. The $15.40 level is definitely an important one for ContextLogic Inc. WISH.

After the sell-off that began in early February, ContextLogic found support at $15.40 in March and a rebound followed. The stock then hit a wall of resistance at the level in April before selling off once more.

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On Tuesday, ContextLogic was up by about 50%, closing at $11.63, and it's trading higher again today.

If the stock makes it to the $15.40 level, there's a good chance it will hit resistance again. This could cause the rally to stall out.