As this happened, UBS upgraded its Teck Resources Ltd [TECK] rating to a Buy from a a Neutral in a research note published recently. UBS began covering TECK with “Buy” recommendation on January 16, 2024. Wolfe Research revised its rating on November 10, 2023. It rated TECK as “an Outperform” which previously was an “a Peer perform”.
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Price Performance Review of TECK
On Tuesday, Teck Resources Ltd [NYSE:TECK] saw its stock fall -3.24% to $49.35. Over the last five days, the stock has gained 1.56%. Teck Resources Ltd shares have risen nearly 17.69% since the year began. Nevertheless, the stocks have risen 27.85% over the past one year. While a 52-week high of $54.69 was reached on 05/20/24, a 52-week low of $34.10 was recorded on 02/13/24. SMA at 50 days reached $48.21, while 200 days put it at $45.99.
Levels Of Support And Resistance For TECK Stock
The 24-hour chart illustrates a support level at 48.88, which if violated will result in even more drops to 48.42. On the upside, there is a resistance level at 50.08. A further resistance level may holdings at 50.82. The Relative Strength Index (RSI) on the 14-day chart is 48.84, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.66, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 77.22%. Stochastics %K at 41.63% indicates the stock is a holding.
How much short interest is there in Teck Resources Ltd?
A steep rise in short interest was recorded in Teck Resources Ltd stocks on 2024-09-30, growing by 1.45 million shares to a total of 7.83 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 6.39 million shares. There was a rise of 18.45%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on October 17, 2023 when JP Morgan began covering the stock and recommended ‘”an Overweight”‘ rating along with a $52 price target.
