As this happened, National Bank Financial downgraded its Teck Resources Ltd [TECK] rating to a Sector perform from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including UBS’s analysts, who decreased its forecast for the stock in mid November from “a Buy” to “a Neutral”. Deutsche Bank also remained covering TECK and has decreased its forecast on October 25, 2024 with a “Hold” recommendation from previously “Buy” rating. UBS revised its rating on September 04, 2024. It rated TECK as “a Buy” which previously was an “a Neutral”.
Price Performance Review of TECK
On Tuesday, Teck Resources Ltd [NYSE:TECK] saw its stock fall -0.65% to $41.17. Over the last five days, the stock has gained 2.06%. Teck Resources Ltd shares have risen nearly 1.58% since the year began. Nevertheless, the stocks have risen 2.77% over the past one year. While a 52-week high of $54.69 was reached on 01/06/25, a 52-week low of $36.21 was recorded on 01/03/25. SMA at 50 days reached $44.98, while 200 days put it at $47.61.
Levels Of Support And Resistance For TECK Stock
The 24-hour chart illustrates a support level at 40.77, which if violated will result in even more drops to 40.36. On the upside, there is a resistance level at 41.73. A further resistance level may holdings at 42.28. The Relative Strength Index (RSI) on the 14-day chart is 38.44, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.28, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 47.41%. Stochastics %K at 39.09% indicates the stock is a holding.
How much short interest is there in Teck Resources Ltd?
A steep rise in short interest was recorded in Teck Resources Ltd stocks on 2024-12-13, growing by 0.47 million shares to a total of 6.8 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-15 was 6.33 million shares. There was a rise of 6.95%, which implies that there is a positive sentiment for the stock.
