Following these proceedings, Scotiabank upgraded its Canadian Pacific Kansas City Limited [CP] rating to a Sector outperform from a a Sector perform in a research note published recently. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who began to cover the stock in early June with a ‘”an Overweight”‘ rating. Jefferies began covering CP with “Buy” recommendation on April 08, 2024. Scotiabank revised its rating on March 25, 2024. It rated CP as “a Sector perform” which previously was an “a Sector outperform”.
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Price Performance Review of CP
On Tuesday, Canadian Pacific Kansas City Limited [NYSE:CP] saw its stock fall -0.70% to $80.61. Over the last five days, the stock has lost -4.24%. Canadian Pacific Kansas City Limited shares have risen nearly 1.96% since the year began. Nevertheless, the stocks have risen 10.65% over the past one year. While a 52-week high of $91.58 was reached on 03/13/24, a 52-week low of $68.92 was recorded on 05/01/24. SMA at 50 days reached $82.43, while 200 days put it at $82.40.
Levels Of Support And Resistance For CP Stock
The 24-hour chart illustrates a support level at 80.14, which if violated will result in even more drops to 79.66. On the upside, there is a resistance level at 81.16. A further resistance level may holdings at 81.70. The Relative Strength Index (RSI) on the 14-day chart is 35.68, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.90, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 94.66%. Stochastics %K at 6.90% indicates the stock is a buying.
How much short interest is there in Canadian Pacific Kansas City Limited?
A steep rise in short interest was recorded in Canadian Pacific Kansas City Limited stocks on 2024-09-13, growing by 2.24 million shares to a total of 9.35 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 7.11 million shares. There was a rise of 23.93%, which implies that there is a positive sentiment for the stock.
