As published in a research note from CLSA on March 21, 2024, Kingsoft Cloud Holdings Ltd ADR [KC] has been rated up from an Underperform to an Outperform and the price target has been revised to $4.40. Analysts at Citigroup upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late March. As of March 11, 2024, JP Morgan has increased its “Neutral” rating to a “an Overweight” for KC. Earlier on June 01, 2023, Goldman upgraded its rating. Their new recommendation was “a Neutral” for KC stock which previously was a “a Sell”.
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Analyzing KC Stock Performance
During the last five days, there has been a surge of approximately 46.74%. Over the course of the year, Kingsoft Cloud Holdings Ltd ADR shares have jumped approximately 72.75%. Shares of the company reached a 52-week high of $6.54 on 11/20/24 and a 52-week low of $2.02 on 09/06/24. A 50-day SMA is recorded $3.24, while a 200-day SMA reached $2.91. Nevertheless, trading volume fell to 11.62 million shares from 2.87 million shares the previous day.
Support And Resistance Levels for Kingsoft Cloud Holdings Ltd ADR (KC)
According to the 24-hour chart, there is a support level at 5.88, which, if violated, would cause prices to drop to 5.23. In the upper region, resistance lies at 6.86. The next price resistance is at 7.19. RSI (Relative Strength Index) is 74.26 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.91, which suggests the price will decrease in the coming days. Percent R is at 0.23%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
