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 fall -0.52% to $17.29. Over the last five days, the stock has lost -0.35%. First Horizon Corporation shares have risen nearly 22.10% since the year began. Nevertheless, the stocks have risen 64.35% over the past one year. While a 52-week high of $17.68 was reached on 10/17/24, a 52-week low of $10.50 was recorded on 01/17/24. SMA at 50 days reached $16.12, while 200 days put it at $15.32.
Levels Of Support And Resistance For FHN Stock
The 24-hour chart illustrates a support level at 17.21, which if violated will result in even more drops to 17.13. On the upside, there is a resistance level at 17.38. A further resistance level may holdings at 17.48. The Relative Strength Index (RSI) on the 14-day chart is 61.37, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.22, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 19.22%. Stochastics %K at 80.69% 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 2024-10-15, growing by 1.59 million shares to a total of 6.51 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 4.92 million shares. There was a rise of 24.39%, which implies that there is a positive sentiment for the stock.
