Following these proceedings, JP Morgan downgraded its MINISO Group Holding Ltd ADR [MNSO] rating to a Neutral from a an Overweight in a research note published recently. A number of analysts have revised their coverage, including Jefferies’s analysts, who decreased its forecast for the stock in late September from “a Buy” to “a Hold”. BofA Securities also remained covering MNSO and has decreased its forecast on September 23, 2024 with a “an Underperform” recommendation from previously “Buy” rating. JP Morgan started covering the stock on April 30, 2024. It rated MNSO as “an Overweight”.
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Price Performance Review of MNSO
On Tuesday, MINISO Group Holding Ltd ADR [NYSE:MNSO] saw its stock jump 7.53% to $18.86. Over the last five days, the stock has gained 40.75%. MINISO Group Holding Ltd ADR shares have fallen nearly -6.20% since the year began. Nevertheless, the stocks have fallen -26.12% over the past one year. While a 52-week high of $27.87 was reached on 05/13/24, a 52-week low of $12.51 was recorded on 09/24/24. SMA at 50 days reached $15.91, while 200 days put it at $19.21.
Levels Of Support And Resistance For MNSO Stock
The 24-hour chart illustrates a support level at 17.95, which if violated will result in even more drops to 17.03. On the upside, there is a resistance level at 19.33. A further resistance level may holdings at 19.79. The Relative Strength Index (RSI) on the 14-day chart is 64.58, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.14, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 12.53%. Stochastics %K at 84.81% indicates the stock is a selling.
How much short interest is there in MINISO Group Holding Ltd ADR?
A steep rise in short interest was recorded in MINISO Group Holding Ltd ADR stocks on 2024-09-13, growing by 0.35 million shares to a total of 5.73 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 5.38 million shares. There was a rise of 6.1%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on January 17, 2023 when Goldman resumed its ‘”a Buy”‘ rating for the stock.
