Alibaba Group Holding Ltd. (NYSE: BABA) had its price target increased by equities researchers at MKM Partners from $95.00 to $130.00. The company currently has a rating of Buy on the shares.
The much anticipated comments from Federal Reserve Chairwoman Janet Yellen came on Friday.
Yellen said the case for another interest-rate hike is strengthening, sending a strong signal the U.S. central bank is preparing to increase rates as soon as next month.
The market responded first positively and then pivoted back to losses across all three major indices.
The Dow Jones Industrial Average fell 53 points, or 0.29 percent, to 18,395.
The S&P 500 fell around 3 points, or 0.16 percent, to 2,169.
The Nasdaq climbed 7 points, or 0.13 percent, to end the week at 5,219.
NYMEX crude oil futures fell 0.02 percent to $47.32 while Brent contracts added 0.06 percent to $49.70.
Natural gas futures climbed 0.35 percent on the session and finished the week at $2.86.Precious metals were mixed on Friday.
COMEX gold futures were basically unchanged at $1,324.50.
Share prices sometimes get a bounce to the upside on analysts price target increases.
Shares of Alibaba Group Holding Ltd. (NYSE: BABA) opened at $94.15 and traded in a range between, $94.08 and $95.45 yesterday, and last traded at $95.06, which represents a change of $ 1.12 over the previous closing price.
Alibaba Group Holding Ltd. (NYSE: BABA) currently has a market cap of 235.08B
The stock’s average daily volume is 16,929,000 shares out of a total float 1,084,286,000 of and some 14,133,920 shares crossed the trading desk yesterday.
Look for increasing trading volume in trading activity today and going forward.
This is an excellent indicator of heavy volume accumulation from institutional investors.
Increased trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
With that in mind Alibaba Group Holding Ltd. (NYSE: BABA) now has a 50-day MA is $87.43 and 200-day MA is $78.77, and it has traded in a 52-week range between $57.20 – 98.86
Earnings growth is an important factor toresearch when buying stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.
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