In the meantime, RBC Capital Mkts upgraded its Smurfit WestRock plc [SW] rating to an Outperform from a a Sector perform in a research note published on October 31, 2024; the price target was increased to $58 from $52. A number of analysts have revised their coverage, including Citigroup’s analysts, who began to cover the stock in late October with a ‘”a Buy”‘ rating. Redburn Atlantic began covering SW with “Buy” recommendation on August 23, 2024.
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Price Performance Review of SW
On Tuesday, Smurfit WestRock plc [NYSE:SW] saw its stock jump 0.14% to $51.82. Over the last five days, the stock has gained 15.90%. Smurfit WestRock plc shares have risen nearly 26.98% since the year began. Nevertheless, the stocks have risen 38.70% over the past one year.
Levels Of Support And Resistance For SW Stock
The 24-hour chart illustrates a support level at 51.43, which if violated will result in even more drops to 51.04. On the upside, there is a resistance level at 52.43. A further resistance level may holdings at 53.05. The Relative Strength Index (RSI) on the 14-day chart is 68.97, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.43, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 9.69%. Stochastics %K at 88.83% indicates the stock is a selling.
How much short interest is there in Smurfit WestRock plc?
A steep rise in short interest was recorded in Smurfit WestRock plc stocks on 2024-10-15, growing by 3.31 million shares to a total of 16.91 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 13.6 million shares. There was a rise of 19.56%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on July 19, 2024 when Morgan Stanley began covering the stock and recommended ‘”an Overweight”‘ rating along with a $60 price target.
