Based on the latest market data and analysis, BSBR stock shows mixed signals:
Technical Analysis
The stock is currently trading at $4.59, down 0.65% in regular trading hours. The RSI of 61.52 indicates moderate bullish momentum but not yet overbought. The MACD at 0.14 suggests a slightly positive trend.
Recent Performance & News
Banco Santander Brasil has scheduled an Extraordinary General Meeting for January 17, 2025, focusing on governance improvements and board composition. The parent company Santander reported strong FY2024 results with a 14% increase in underlying attributable profit to 12.57 billion euros.
Analyst Perspective
JPMorgan recently upgraded BSBR to "Buy" from "Hold" with a price target of $6, suggesting a 31% upside potential. The analyst notes that despite a 19% year-to-date decline, the bank's commitment to achieving a 20% return on equity and successful execution of its higher-income strategy creates an attractive risk/reward profile.
Fibonacci Levels
- Resistance 1: $4.78
- Resistance 2: $4.91
- Support 1: $4.34
- Support 2: $4.21
- Pivot: $4.56
Recommendation
Based on the technical setup, recent positive earnings from the parent company, and analyst upgrade, BSBR appears to be a cautious buy at current levels with a first target of $4.78 (R1) and stop loss at $4.34 (S1).