Duolingo, Inc. (NASDAQ:DUOL) shares are trading lower, hitting new 52-week lows. The company on Monday announced a CFO transition.
Executive Shake-Up At Duolingo
Duolingo announced that Gillian Munson has been appointed CFO, effective Feb. 23. She will succeed Matt Skaruppa, who is stepping down after nearly six years with the company.
The company said Skaruppa will remain in the CFO role until Munson assumes the position. After the transition, Skaruppa is expected to move into an advisory role to support a smooth transition.
Duolingo Trend Analysis
Duolingo is currently positioned below all key moving averages, indicating a bearish trend. The stock is trading 8.3% below its 20-day SMA, 14% below its 50-day SMA, and significantly lower at 49.3% below its 200-day SMA, suggesting ongoing weakness in momentum.
The RSI is currently at 38.53, which is considered neutral territory. This level indicates that the stock isn't in oversold or overbought conditions, but traders should remain cautious as it could signal a lack of strong buying interest. Meanwhile, MACD is above its signal line, which suggests a hint of bullish momentum despite the overall bearish trend.
Key support is at $166.50, which the stock has broken through on Monday, while resistance sits at $193.00. The break of support signals further declines, but a move back above this critical level might indicate a potential reversal or trend change.
Looking at the 12-month performance, the stock is down 47.29%, highlighting a significant decline over the past year. This long-term trend suggests that traders should be cautious and consider the potential for continued weakness.
Traders should keep an eye on the key support and resistance levels as they navigate this bearish environment. The technical indicators suggest a cautious approach, with the potential for short-term bounces.
DUOL Price Action: At the time of writing, Duolingo shares are trading 7.04% lower at $164.23, making new 52-week lows, according to data from Benzinga Pro.
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