In the meantime, Morgan Stanley downgraded its Weibo Corp ADR [WB] rating to an Underweight from a an Equal-weight in a research note published on May 17, 2024; the price target was decreased to $10 from $11. A number of analysts have revised their coverage, including Goldman’s analysts, who decreased its forecast for the stock in late March from “a Buy” to “a Neutral”. UBS also remained covering WB and has increased its forecast on March 19, 2024 with a “Buy” recommendation from previously “Neutral” rating. BofA Securities revised its rating on January 11, 2024. It rated WB as “an Underperform” which previously was an “a Buy”.
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Price Performance Review of WB
On Tuesday, Weibo Corp ADR [NASDAQ:WB] saw its stock fall -0.83% to $8.34. Over the last five days, the stock has lost -2.11%. Weibo Corp ADR shares have fallen nearly -16.14% since the year began. Nevertheless, the stocks have fallen -32.08% over the past one year. While a 52-week high of $14.55 was reached on 01/02/24, a 52-week low of $7.12 was recorded on 04/15/24. SMA at 50 days reached $8.83, while 200 days put it at $10.16. A total of 1.81 million shares were traded, compared to the trading of 1.77 million shares in the previous session.
Levels Of Support And Resistance For WB Stock
The 24-hour chart illustrates a support level at 8.23, which if violated will result in even more drops to 8.11. On the upside, there is a resistance level at 8.48. A further resistance level may holdings at 8.61. The Relative Strength Index (RSI) on the 14-day chart is 42.12, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.33, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 78.74%. Stochastics %K at 16.22% indicates the stock is a buying.
