Alibaba Group Holding Limited (BABA) : Wednesdays money flow analysis of Alibaba Group Holding Limited (BABA) indicates the selling of stock on the strength of price. The investors sold the stock on every rise as seen in the downtick transactions of $230.25 million. In comparison, the inflow of money on upticks was a meager $221.46 million. The dollar value of composite uptick trades minus the downtick trades was negative $8.79 million. The uptick to downtick ratio of 0.96 in the money flow shows weakness. The uptick block trades were valued at $36.31 million. The downtick transaction value was high at $60.21 million, which denotes distribution on strength. The uptick to downtick ratio of block trades was 0.6. Hence, the net money flow in the stock was negative ($23.9 million). Alibaba Group Holding Limited (BABA) gained $1.65 at $84.42, a change of 1.99% over the previous days close.
Also, In the latest statement by the brokerage house, Morgan Stanley maintains its outlook on Alibaba Group Holding Limited (NYSE:BABA). The current rating of the shares is Overweight, according to the research report released by the firm. The brokerage firm raises the price target from $119.3 per share to $130.6 per share. The rating by the firm was issued on June 28, 2016.
Alibaba Group Holding Limited (NYSE:BABA): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $83.27 and $83.23 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $84.70. The buying momentum continued till the end and the stock did not give up its gains. It closed at $84.42, notching a gain of 1.99% for the day. The total traded volume was 13,990,957 . The stock had closed at $82.77 on the previous day.
The stock has recorded a 20-day Moving Average of 6.28% and the 50-Day Moving Average is 7.18%.
Alibaba Group Holding Limited is a holding company. The Company is principally engaged in online and mobile commerce through products, services and technology. The Company provides retail and wholesale marketplaces available through both personal computer and mobile interfaces in the PRC and internationally. Retail marketplaces and services operated by the Company include the China online shopping destination (Taobao Marketplace); the China brands and retail platform (Tmall); the China group buying site that offers products by aggregating demand from consumers through limited time discounted sales (Juhuasuan), and the global consumer marketplace targeting consumers around the world (AliExpress). Wholesale marketplaces operated by the Company include the online China wholesale marketplace (1688.com) and the online business-to-business marketplace that focuses on global trade among businesses from around the world (Alibaba.com).