Taking this into account, Wedbush downgraded its First Horizon Corporation [FHN] rating to a Neutral from a an Outperform in a research note published on September 24, 2024; the price target was decreased to $17 from $20. A number of analysts have revised their coverage, including Raymond James’s analysts, who decreased its forecast for the stock in mid July from “a Strong buy” to “an Outperform”. Keefe Bruyette also remained covering FHN and has decreased its forecast on July 17, 2024 with a “Mkt perform” recommendation from previously “an Outperform” rating.
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Price Performance Review of FHN
On Tuesday, First Horizon Corporation [NYSE:FHN] saw its stock jump 1.58% to $16.71. Over the last five days, the stock has gained 8.02%. First Horizon Corporation shares have risen nearly 18.01% since the year began. Nevertheless, the stocks have risen 61.14% over the past one year. While a 52-week high of $17.46 was reached on 07/16/24, a 52-week low of $10.16 was recorded on 01/17/24. SMA at 50 days reached $15.69, while 200 days put it at $15.17.
Levels Of Support And Resistance For FHN Stock
The 24-hour chart illustrates a support level at 16.42, which if violated will result in even more drops to 16.13. On the upside, there is a resistance level at 17.04. A further resistance level may holdings at 17.37. The Relative Strength Index (RSI) on the 14-day chart is 65.11, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.83, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 16.22%. Stochastics %K at 91.69% indicates the stock is a selling.
How much short interest is there in First Horizon Corporation?
A steep rise in short interest was recorded in First Horizon Corporation stocks on 2024-09-30, dropping by -0.44 million shares to a total of 5.95 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 6.39 million shares. There was a decline of -7.36%, which implies that there is a negative sentiment for the stock.
