As this happened, Morgan Stanley downgraded its Suncor Energy, Inc [SU] rating to an Equal-weight from a an Overweight in a research note published recently. A number of analysts have revised their coverage, including Desjardins’s analysts, who increased its forecast for the stock in mid November from “a Hold” to “a Buy”. TD Securities also remained covering SU and has increased its forecast on August 07, 2024 with a “Buy” recommendation from previously “Hold” rating. BMO Capital Markets revised its rating on August 07, 2024. It rated SU as “an Outperform” which previously was an “a Market perform”.
Price Performance Review of SU
On Tuesday, Suncor Energy, Inc [NYSE:SU] saw its stock jump 0.96% to $39.77. Over the last five days, the stock has gained 7.60%. Suncor Energy, Inc shares have risen nearly 11.46% since the year began. Nevertheless, the stocks have risen 21.70% over the past one year. While a 52-week high of $41.94 was reached on 01/13/25, a 52-week low of $31.03 was recorded on 01/02/25. SMA at 50 days reached $38.13, while 200 days put it at $38.55.
Levels Of Support And Resistance For SU Stock
The 24-hour chart illustrates a support level at 39.25, which if violated will result in even more drops to 38.73. On the upside, there is a resistance level at 40.08. A further resistance level may holdings at 40.39. The Relative Strength Index (RSI) on the 14-day chart is 70.61, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.64, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 13.45%. Stochastics %K at 88.02% indicates the stock is a selling.
How much short interest is there in Suncor Energy, Inc?
A steep rise in short interest was recorded in Suncor Energy, Inc stocks on 2024-12-31, dropping by -33.91 million shares to a total of 11.93 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-29 was 45.85 million shares. There was a decline of -284.15%, which implies that there is a negative sentiment for the stock.
