In the meantime, Daiwa Securities upgraded its Daqo New Energy Corp ADR [DQ] rating to an Outperform from a a Neutral in a research note published recently. A number of analysts have revised their coverage, including HSBC Securities’s analysts, who increased its forecast for the stock in early October from “a Hold” to “a Buy”. HSBC Securities also remained covering DQ and has increased its forecast on August 27, 2024 with a “Hold” recommendation from previously “Reduce” rating. Goldman started covering the stock on July 11, 2024. It rated DQ as “a Buy”.
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Price Performance Review of DQ
On Friday, Daqo New Energy Corp ADR [NYSE:DQ] saw its stock jump 0.27% to $18.39. Over the last five days, the stock has gained 1.71%. Daqo New Energy Corp ADR shares have fallen nearly -30.86% since the year began. Nevertheless, the stocks have fallen -17.75% over the past one year. While a 52-week high of $30.85 was reached on 10/28/24, a 52-week low of $13.62 was recorded on 08/26/24. SMA at 50 days reached $20.81, while 200 days put it at $19.97.
Levels Of Support And Resistance For DQ Stock
The 24-hour chart illustrates a support level at 18.10, which if violated will result in even more drops to 17.80. On the upside, there is a resistance level at 18.72. A further resistance level may holdings at 19.04. The Relative Strength Index (RSI) on the 14-day chart is 43.41, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.16, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 87.66%. Stochastics %K at 9.28% indicates the stock is a buying.
How much short interest is there in Daqo New Energy Corp ADR?
A steep rise in short interest was recorded in Daqo New Energy Corp ADR stocks on 2024-11-29, growing by 97633.0 shares to a total of 3.77 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-31 was 3.68 million shares. There was a rise of 2.59%, which implies that there is a positive sentiment for the stock.
