Following these proceedings, JP Morgan downgraded its HDFC Bank Ltd. ADR [HDB] rating to a Neutral from a an Overweight in a research note published recently. A number of analysts have revised their coverage, including Bernstein’s analysts, who decreased its forecast for the stock in early September from “an Outperform” to “a Mkt perform”. Nomura also remained covering HDB and has decreased its forecast on June 11, 2019 with a “Neutral” recommendation from previously “Buy” rating. Morgan Stanley revised its rating on July 25, 2017. It rated HDB as “an Overweight” which previously was an “an Equal-weight”.
Price Performance Review of HDB
On Tuesday, HDFC Bank Ltd. ADR [NYSE:HDB] saw its stock fall -0.82% to $61.47. Over the last five days, the stock has lost -4.16%. HDFC Bank Ltd. ADR shares have fallen nearly -3.74% since the year began. Nevertheless, the stocks have fallen -6.25% over the past one year. While a 52-week high of $68.50 was reached on 01/02/25, a 52-week low of $52.16 was recorded on 01/07/25. SMA at 50 days reached $64.68, while 200 days put it at $61.21.
Levels Of Support And Resistance For HDB Stock
The 24-hour chart illustrates a support level at 61.13, which if violated will result in even more drops to 60.78. On the upside, there is a resistance level at 62.07. A further resistance level may holdings at 62.66. The Relative Strength Index (RSI) on the 14-day chart is 29.11, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.02, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 97.96%. Stochastics %K at 5.76% indicates the stock is a buying.
How much short interest is there in HDFC Bank Ltd. ADR?
A steep rise in short interest was recorded in HDFC Bank Ltd. ADR stocks on 2024-12-13, dropping by -0.35 million shares to a total of 18.95 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-15 was 19.3 million shares. There was a decline of -1.85%, which implies that there is a negative sentiment for the stock.
