While this happened, Goldman upgraded its Banco Bradesco S.A. ADR [BBD] rating to a Buy from a a Neutral in a research note published on August 19, 2024; the price target was increased to $3.20 from $2.50. A number of analysts have revised their coverage, including Goldman’s analysts, who increased its forecast for the stock in late February from “a Sell” to “a Neutral”. Jefferies also remained covering BBD and has decreased its forecast on February 09, 2024 with a “Hold” recommendation from previously “Buy” rating. Goldman revised its rating on January 09, 2024. It rated BBD as “a Sell” which previously was an “a Neutral”.
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Price Performance Review of BBD
On Tuesday, Banco Bradesco S.A. ADR [NYSE:BBD] saw its stock fall -1.12% to $2.64. Over the last five days, the stock has lost -3.65%. Banco Bradesco S.A. ADR shares have fallen nearly -21.36% since the year began. Nevertheless, the stocks have fallen -0.54% over the past one year. While a 52-week high of $3.41 was reached on 01/08/24, a 52-week low of $2.15 was recorded on 07/02/24. SMA at 50 days reached $2.74, while 200 days put it at $2.71.
Levels Of Support And Resistance For BBD Stock
The 24-hour chart illustrates a support level at 2.62, which if violated will result in even more drops to 2.60. On the upside, there is a resistance level at 2.67. A further resistance level may holdings at 2.70. The Relative Strength Index (RSI) on the 14-day chart is 44.81, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.05, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 76.19%. Stochastics %K at 26.76% indicates the stock is a holding.
How much short interest is there in Banco Bradesco S.A. ADR?
A steep rise in short interest was recorded in Banco Bradesco S.A. ADR stocks on 2024-09-30, dropping by -12.64 million shares to a total of 15.77 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 28.41 million shares. There was a decline of -80.14%, which implies that there is a negative sentiment for the stock.
