Following these proceedings, RBC Capital Mkts downgraded its Toronto Dominion Bank [TD] rating to a Sector perform from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including National Bank Financial’s analysts, who increased its forecast for the stock in late August from “an Underperform” to “a Sector perform”. UBS began covering TD with “Neutral” recommendation on July 02, 2024. National Bank Financial revised its rating on May 23, 2024. It rated TD as “an Underperform” which previously was an “a Sector perform”.
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Price Performance Review of TD
On Tuesday, Toronto Dominion Bank [NYSE:TD] saw its stock fall -1.42% to $55.48. Over the last five days, the stock has lost -3.13%. Toronto Dominion Bank shares have fallen nearly -14.14% since the year began. Nevertheless, the stocks have risen 1.06% over the past one year. While a 52-week high of $65.12 was reached on 01/08/24, a 52-week low of $53.52 was recorded on 06/14/24. SMA at 50 days reached $60.37, while 200 days put it at $58.54.
Levels Of Support And Resistance For TD Stock
The 24-hour chart illustrates a support level at 55.08, which if violated will result in even more drops to 54.67. On the upside, there is a resistance level at 56.04. A further resistance level may holdings at 56.60. The Relative Strength Index (RSI) on the 14-day chart is 26.29, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.68, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 95.80%. Stochastics %K at 4.60% indicates the stock is a buying.
How much short interest is there in Toronto Dominion Bank?
A steep rise in short interest was recorded in Toronto Dominion Bank stocks on 2024-10-15, growing by 13.61 million shares to a total of 32.11 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 18.5 million shares. There was a rise of 42.38%, which implies that there is a positive sentiment for the stock.
