As this happened, Citigroup initiated its Canadian Pacific Kansas City Limited [CP] rating to a Buy in a research note published on October 09, 2024; the price target was $97. A number of analysts have revised their coverage, including Scotiabank’s analysts, who increased its forecast for the stock in early July from “a Sector perform” to “a Sector outperform”. Wells Fargo began covering CP with “an Overweight” recommendation on June 07, 2024. Jefferies started covering the stock on April 08, 2024. It rated CP as “a Buy”.
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Price Performance Review of CP
On Tuesday, Canadian Pacific Kansas City Limited [NYSE:CP] saw its stock jump 1.14% to $79.65. Over the last five days, the stock has lost -2.14%. Canadian Pacific Kansas City Limited shares have risen nearly 0.75% since the year began. Nevertheless, the stocks have risen 11.92% 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 $82.79, while 200 days put it at $82.48.
Levels Of Support And Resistance For CP Stock
The 24-hour chart illustrates a support level at 78.93, which if violated will result in even more drops to 78.20. On the upside, there is a resistance level at 80.04. A further resistance level may holdings at 80.42. The Relative Strength Index (RSI) on the 14-day chart is 38.00, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.56, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 78.10%. Stochastics %K at 10.73% 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 2024-09-30, growing by 4.82 million shares to a total of 12.49 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 7.67 million shares. There was a rise of 38.57%, which implies that there is a positive sentiment for the stock.
