Following these proceedings, HSBC Securities upgraded its Banco Bradesco S.A. ADR [BBD] rating to a Buy from a a Hold in a research note published recently. A number of analysts have revised their coverage, including JP Morgan’s analysts, who decreased its forecast for the stock in late November from “an Overweight” to “a Neutral”. Goldman also remained covering BBD and has increased its forecast on August 19, 2024 with a “Buy” recommendation from previously “Neutral” rating. Goldman revised its rating on February 21, 2024. It rated BBD as “a Neutral” which previously was an “a Sell”.
Price Performance Review of BBD
On Tuesday, Banco Bradesco S.A. ADR [NYSE:BBD] saw its stock jump 2.12% to $1.93. Over the last five days, the stock has gained 2.12%. Banco Bradesco S.A. ADR shares have risen nearly 3.78% since the year began. Nevertheless, the stocks have fallen -36.79% over the past one year. While a 52-week high of $3.14 was reached on 01/02/25, a 52-week low of $1.79 was recorded on 01/10/25. SMA at 50 days reached $2.1330, while 200 days put it at $2.4746.
Levels Of Support And Resistance For BBD Stock
The 24-hour chart illustrates a support level at 1.8800, which if violated will result in even more drops to 1.8300. On the upside, there is a resistance level at 1.9600. A further resistance level may holdings at 1.9900. The Relative Strength Index (RSI) on the 14-day chart is 47.29, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0086, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 46.67%. Stochastics %K at 33.33% indicates the stock is a holding.
How much short interest is there in Banco Bradesco S.A. ADR?
A steep rise in short interest was recorded in Banco Bradesco S.A. ADR stocks on 2024-12-31, growing by 77.96 million shares to a total of 115.21 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-29 was 37.25 million shares. There was a rise of 67.67%, which implies that there is a positive sentiment for the stock.
