58.com (WUBA) : Traders are bullish on 58.com (WUBA) as it has outperformed the S&P 500 by a wide margin of 7.06% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 5.76%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.69% in the last 1 week, and is up 10.66% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 8.09% and the 50-Day Moving Average is 7.66%. 58.com Inc. has dropped 4.83% during the last 3-month period . Year-to-Date the stock performance stands at -21.15%.
58.com (NYSE:WUBA): stock turned positive on Friday. Though the stock opened at $51, the bulls momentum made the stock top out at $52.09 level for the day. The stock recorded a low of $50.23 and closed the trading day at $52.01, in the green by 1.34%. The total traded volume for the day was 1,379,885. The stock had closed at $51.32 in the previous days trading.
58.com Inc. (58.com) is a holding company. The Company operates an online marketplace serving local merchants and consumers in China. The Companys online marketplace enables local merchants and consumers to connect, share information and conduct business. The Companys online marketplace contains local information in approximately 395 cities, across the content categories, including housing, jobs, used goods, automotive, pets, tickets, yellow pages and other local services. The Company conducts automatic and manual screening using its technology and processes. The Companys users post listings on its marketplace covering a range of services and products on its Website, www.58.com. The Company organizes the listings on its marketplace by content categories, such as jobs, housing, used goods, automotive, yellow pages, pets and tickets.