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Why This Technical Analyst Likes WISH

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Wish  (WISH) - Get ContextLogic, Inc. Class A Report is reporting its second-quarter earnings after the close of the market on Thursday, August 12. The popular e-commerce platform has lost over 40% of its stock price this year. Currently, its stock price is hovering around $10. 

TheStreet's Katherine Ross recently sat down with TrendSpider's chief market analyst Jake Wujastyk where they also discussed Wish.

"So, for me personally, I don't really look at the fibs as a reason why WISH can't break through a specific fib level," Wujastyk said. "You know, for me, I think it's more or less just kind of an area that price had trouble getting down though."

"...if you remember as Wish was moving down. 10.50 was kind of a level that was holding quite a bit. Then you had a little bit of a bounce. and the price was respecting that area. So, this is more or less kind of just a previous area of support now acting as resistance," he added.

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