Following these proceedings, Scotiabank downgraded its Transalta Corp [TAC] rating to a Sector perform from a a Sector outperform in a research note published recently. A number of analysts have revised their coverage, including CIBC’s analysts, who decreased its forecast for the stock in early January from “a Sector outperform” to “a Neutral”. Desjardins also remained covering TAC and has decreased its forecast on November 06, 2024 with a “Hold” recommendation from previously “Buy” rating.
Price Performance Review of TAC
On Monday, Transalta Corp [NYSE:TAC] saw its stock fall -20.56% to $10.70. Over the last five days, the stock has lost -25.12%. Transalta Corp shares have fallen nearly -24.38% since the year began. Nevertheless, the stocks have risen 46.37% over the past one year. While a 52-week high of $14.64 was reached on 01/21/25, a 52-week low of $5.94 was recorded on 01/27/25. SMA at 50 days reached $12.70, while 200 days put it at $9.33.
Levels Of Support And Resistance For TAC Stock
The 24-hour chart illustrates a support level at 9.78, which if violated will result in even more drops to 8.86. On the upside, there is a resistance level at 12.39. A further resistance level may holdings at 14.08. The Relative Strength Index (RSI) on the 14-day chart is 27.32, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.84, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 96.34%. Stochastics %K at 25.31% 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.
