The Toronto-Dominion Bank (TD): We’ve Only Just Begun

The stock of The Toronto-Dominion Bank (NYSE:TD) has been Downgraded to Market Perform from Outperform by BMO Capital Markets in its latest research note that was published on August 30. BofA/Merrill analysts have downgraded their rating of TD stock from Buy to Neutral in a separate flash note to investors on August 15. Analysts at Barclays issued an upgrade fromEqual Weight to Overweight for the stock, in a research note that dated back to June 11.

The Toronto-Dominion Bank, which has current market capitalization of above $103 Billion, published its last quarter earnings on July 31, 2019.

TD surged by $0.42 during the normal trading session on Thursday and reaching a high of $56.76 during the day while it closed the day at $56.54. The The stock had a high trading volume of 2.09 million shares on that day, which is high compared to the average daily volume of 1.12M shares. TD has also gained 3.38% of its value over the past 7 days. However, the stock has surged by 0.28% in the 3 months of the year. Over the past six months meanwhile, it has gained 0.44% while it has added 13.72% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -5.05% from its 3 months high price. However, taking another look at TD will indicate that it is trading +5.8% away from its 90-day low. Looking at the bigger picture, the The Toronto-Dominion Bank stock has dropped by -8.81% from its 52-week high while it has surged by +18.46% from its 52-week low price.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 50.74%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 93.37%. Over the past 20 days, The’s Stochastic %K stood at 92.09% while its Stochastic %D was revealed to be 81.77%.