Taking this into account, UBS downgraded its Itau Unibanco Holding S.A. ADR [ITUB] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who increased its forecast for the stock in mid June from “an Equal-weight” to “an Overweight”. BofA Securities also remained covering ITUB and has increased its forecast on January 16, 2024 with a “Buy” recommendation from previously “Neutral” rating. HSBC Securities revised its rating on January 08, 2024. It rated ITUB as “a Hold” which previously was an “a Buy”.
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Price Performance Review of ITUB
On Tuesday, Itau Unibanco Holding S.A. ADR [NYSE:ITUB] saw its stock jump 0.75% to $5.35. Over the last five days, the stock has lost -8.49%. Itau Unibanco Holding S.A. ADR shares have fallen nearly -20.93% since the year began. Nevertheless, the stocks have fallen -13.82% over the past one year. While a 52-week high of $7.08 was reached on 02/20/24, a 52-week low of $5.25 was recorded on 12/02/24. SMA at 50 days reached $6.15, while 200 days put it at $6.33.
Levels Of Support And Resistance For ITUB Stock
The 24-hour chart illustrates a support level at 5.29, which if violated will result in even more drops to 5.24. On the upside, there is a resistance level at 5.38. A further resistance level may holdings at 5.42. The Relative Strength Index (RSI) on the 14-day chart is 26.96, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.45, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 87.50%. Stochastics %K at 9.65% indicates the stock is a buying.
How much short interest is there in Itau Unibanco Holding S.A. ADR?
A steep rise in short interest was recorded in Itau Unibanco Holding S.A. ADR stocks on 2024-11-15, dropping by -15.87 million shares to a total of 11.87 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 27.74 million shares. There was a decline of -133.76%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on October 16, 2023 when Jefferies began covering the stock and recommended ‘”a Hold”‘ rating along with a $6.10 price target.
