Taking this into account, JP Morgan upgraded its Futu Holdings Ltd ADR [FUTU] rating to an Overweight from a a Neutral in a research note published on May 28, 2024; the price target was increased to $92 from $62. A number of analysts have revised their coverage, including CLSA’s analysts, who increased its forecast for the stock in mid March from “an Underperform” to “an Outperform”. JP Morgan also remained covering FUTU and has decreased its forecast on March 15, 2024 with a “Neutral” recommendation from previously “an Overweight” rating. JP Morgan revised its rating on January 17, 2024. It rated FUTU as “an Overweight” which previously was an “a Neutral”.
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Price Performance Review of FUTU
On Tuesday, Futu Holdings Ltd ADR [NASDAQ:FUTU] saw its stock fall -0.36% to $74.61. Over the last five days, the stock has gained 0.38%. Futu Holdings Ltd ADR shares have risen nearly 36.57% since the year began. Nevertheless, the stocks have risen 78.92% over the past one year. While a 52-week high of $81.86 was reached on 05/17/24, a 52-week low of $38.25 was recorded on 01/22/24. SMA at 50 days reached $67.62, while 200 days put it at $58.17. A total of 1.1 million shares were traded, compared to the trading of 0.96 million shares in the previous session.
Levels Of Support And Resistance For FUTU Stock
The 24-hour chart illustrates a support level at 73.50, which if violated will result in even more drops to 72.39. On the upside, there is a resistance level at 75.91. A further resistance level may holdings at 77.21. The Relative Strength Index (RSI) on the 14-day chart is 55.04, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.43, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 76.20%. Stochastics %K at 25.91% indicates the stock is a holding.
