As this happened, HSBC Securities upgraded its Lithium Americas (Argentina) Corp [LAAC] rating to a Buy from a a Hold in a research note published recently. A number of analysts have revised their coverage, including Scotiabank’s analysts, who increased its forecast for the stock in late March from “a Sector perform” to “a Sector outperform”. Deutsche Bank also remained covering LAAC and has decreased its forecast on January 11, 2024 with a “Hold” recommendation from previously “Buy” rating. Canaccord Genuity revised its rating on October 31, 2023. It rated LAAC as “a Buy” which previously was an “a Speculative buy”.
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Price Performance Review of LAAC
On Tuesday, Lithium Americas (Argentina) Corp [NYSE:LAAC] saw its stock fall -4.57% to $3.34. Over the last five days, the stock has gained 3.73%. Lithium Americas (Argentina) Corp shares have fallen nearly -47.15% since the year began. Nevertheless, the stocks have fallen -49.39% over the past one year. While a 52-week high of $8.14 was reached on 01/02/24, a 52-week low of $2.07 was recorded on 09/10/24. SMA at 50 days reached $2.69, while 200 days put it at $4.14.
Levels Of Support And Resistance For LAAC Stock
The 24-hour chart illustrates a support level at 3.23, which if violated will result in even more drops to 3.13. On the upside, there is a resistance level at 3.45. A further resistance level may holdings at 3.57. The Relative Strength Index (RSI) on the 14-day chart is 63.41, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.30, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 19.56%. Stochastics %K at 84.55% indicates the stock is a selling.
How much short interest is there in Lithium Americas (Argentina) Corp?
A steep rise in short interest was recorded in Lithium Americas (Argentina) Corp stocks on 2024-09-13, growing by 0.34 million shares to a total of 11.88 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 11.54 million shares. There was a rise of 2.86%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on October 18, 2023 when Deutsche Bank began covering the stock and recommended ‘”a Buy”‘ rating along with a $11 price target.
