As this happened, CIBC downgraded its Transalta Corp [TAC] rating to a Neutral from a a Sector outperform in a research note published recently. A number of analysts have revised their coverage, including Desjardins’s analysts, who decreased its forecast for the stock in early November from “a Buy” to “a Hold”. Credit Suisse revised its rating on April 12, 2023. It rated TAC as “an Outperform” which previously was an “a Neutral”.
Price Performance Review of TAC
On Friday, Transalta Corp [NYSE:TAC] saw its stock jump 4.38% to $14.29. Over the last five days, the stock has gained 8.09%. Transalta Corp shares have risen nearly 0.99% since the year began. Nevertheless, the stocks have risen 89.02% over the past one year. While a 52-week high of $14.64 was reached on 01/06/25, a 52-week low of $5.94 was recorded on 01/08/25. SMA at 50 days reached $12.43, while 200 days put it at $9.16.
Levels Of Support And Resistance For TAC Stock
The 24-hour chart illustrates a support level at 13.82, which if violated will result in even more drops to 13.36. On the upside, there is a resistance level at 14.58. A further resistance level may holdings at 14.88. The Relative Strength Index (RSI) on the 14-day chart is 65.22, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.00, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 17.03%. Stochastics %K at 52.38% indicates the stock is a holding.
How much short interest is there in Transalta Corp?
A steep rise in short interest was recorded in Transalta Corp stocks on 2024-12-31, growing by 0.19 million shares to a total of 7.71 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-29 was 7.52 million shares. There was a rise of 2.47%, which implies that there is a positive sentiment for the stock.
