Following these proceedings, JP Morgan downgraded its Banco Macro S.A. ADR [BMA] rating to an Underweight from a a Neutral in a research note published on January 31, 2022; the price target was decreased to $12 from $15. A number of analysts have revised their coverage, including HSBC Securities’s analysts, who increased its forecast for the stock in late September from “a Reduce” to “a Buy”. HSBC Securities also remained covering BMA and has decreased its forecast on July 21, 2020 with a “Reduce” recommendation from previously “Hold” rating. Scotiabank revised its rating on January 17, 2020. It rated BMA as “a Sector underperform” which previously was an “a Sector perform”.
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Price Performance Review of BMA
On Friday, Banco Macro S.A. ADR [NYSE:BMA] saw its stock jump 2.35% to $58.30. Over the last five days, the stock has lost -10.28%. Banco Macro S.A. ADR shares have risen nearly 107.76% since the year began. Nevertheless, the stocks have risen 268.50% over the past one year. While a 52-week high of $67.43 was reached on 05/15/24, a 52-week low of $15.26 was recorded on 01/10/24. SMA at 50 days reached $54.26, while 200 days put it at $33.34. A total of 0.31 million shares were traded, compared to the trading of 0.71 million shares in the previous session.
Levels Of Support And Resistance For BMA Stock
The 24-hour chart illustrates a support level at 56.40, which if violated will result in even more drops to 54.49. On the upside, there is a resistance level at 59.67. A further resistance level may holdings at 61.04. The Relative Strength Index (RSI) on the 14-day chart is 49.04, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -4.34, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 78.91%. Stochastics %K at 21.55% indicates the stock is a holding.
