As this happened, Bernstein upgraded its Alibaba Group Holding Ltd ADR [BABA] rating to an Outperform from a a Mkt perform in a research note published recently. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who increased its forecast for the stock in late February from “an Equal-weight” to “an Overweight”. Macquarie also remained covering BABA and has increased its forecast on October 07, 2024 with a “an Outperform” recommendation from previously “Neutral” rating. Macquarie revised its rating on February 08, 2024. It rated BABA as “a Neutral” which previously was an “an Outperform”.
Price Performance Review of BABA
On Tuesday, Alibaba Group Holding Ltd ADR [NYSE:BABA] saw its stock jump 3.85% to $134.01. Over the last five days, the stock has gained 5.60%. Alibaba Group Holding Ltd ADR shares have risen nearly 58.05% since the year began. Nevertheless, the stocks have risen 77.55% over the past one year. While a 52-week high of $145.30 was reached on 02/21/25, a 52-week low of $67.78 was recorded on 01/13/25. SMA at 50 days reached $96.72, while 200 days put it at $88.77.
Levels Of Support And Resistance For BABA Stock
The 24-hour chart illustrates a support level at 131.68, which if violated will result in even more drops to 129.36. On the upside, there is a resistance level at 135.40. A further resistance level may holdings at 136.80. The Relative Strength Index (RSI) on the 14-day chart is 69.60, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 15.22, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 24.40%. Stochastics %K at 79.10% indicates the stock is a holding.
The most recent change occurred on January 17, 2024 when Mizuho resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $100.
