Following these proceedings, JP Morgan upgraded its BRF S.A. ADR [BRFS] rating to an Overweight from a a Neutral 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 early December from “an Overweight” to “a Neutral”. JP Morgan also remained covering BRFS and has increased its forecast on August 04, 2023 with a “an Overweight” recommendation from previously “Neutral” rating. BofA Securities revised its rating on June 01, 2023. It rated BRFS as “a Neutral” which previously was an “an Underperform”.
Price Performance Review of BRFS
On Friday, BRF S.A. ADR [NYSE:BRFS] saw its stock jump 0.54% to $3.75. Over the last five days, the stock has lost -2.60%. BRF S.A. ADR shares have fallen nearly -7.86% since the year began. Nevertheless, the stocks have risen 52.37% over the past one year. While a 52-week high of $4.85 was reached on 01/02/25, a 52-week low of $2.38 was recorded on 01/16/25. SMA at 50 days reached $4.26, while 200 days put it at $4.03.
Levels Of Support And Resistance For BRFS Stock
The 24-hour chart illustrates a support level at 3.72, which if violated will result in even more drops to 3.68. On the upside, there is a resistance level at 3.82. A further resistance level may holdings at 3.88. The Relative Strength Index (RSI) on the 14-day chart is 34.56, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.10, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 93.62%. Stochastics %K at 18.79% indicates the stock is a buying.
How much short interest is there in BRF S.A. ADR?
A steep rise in short interest was recorded in BRF S.A. ADR stocks on 2024-10-31, growing by 1.7 million shares to a total of 4.36 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 2.66 million shares. There was a rise of 38.91%, which implies that there is a positive sentiment for the stock.
