Taking this into account, 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 -12.38% to $10.26. Over the last five days, the stock has lost -5.00%. Weibo Corp ADR shares have risen nearly 3.16% since the year began. Nevertheless, the stocks have fallen -8.90% over the past one year. While a 52-week high of $12.40 was reached on 10/07/24, a 52-week low of $7.03 was recorded on 09/09/24. SMA at 50 days reached $8.19, while 200 days put it at $8.68.
Levels Of Support And Resistance For WB Stock
The 24-hour chart illustrates a support level at 9.92, which if violated will result in even more drops to 9.59. On the upside, there is a resistance level at 10.77. A further resistance level may holdings at 11.29. The Relative Strength Index (RSI) on the 14-day chart is 59.98, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.52, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 44.40%. Stochastics %K at 80.59% indicates the stock is a selling.
How much short interest is there in Weibo Corp ADR?
A steep rise in short interest was recorded in Weibo Corp ADR stocks on 2024-09-13, growing by 0.21 million shares to a total of 18.08 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 17.87 million shares. There was a rise of 1.16%, which implies that there is a positive sentiment for the stock.
