Ally Financial (ALLY) : Traders are bullish on Ally Financial (ALLY) as it has outperformed the S&P 500 by a wide margin of 11.22% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.62%, 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 2.58% in the last 1 week, and is up 11.65% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Ally Financial Inc. is up 16.25% in the last 3-month period. Year-to-Date the stock performance stands at 4.4%. The stock has recorded a 20-day Moving Average of 5.73% and the 50-Day Moving Average is 12.24%.
Ally Financial (NYSE:ALLY): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $19.38 and $19.26 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $19.48. The buying momentum continued till the end and the stock did not give up its gains. It closed at $19.46, notching a gain of 0.10% for the day. The total traded volume was 1,500,356 . The stock had closed at $19.44 on the previous day.
Also, Macquarie initiates coverage on Ally Financial (NYSE:ALLY) The shares have been rated Neutral. The rating by the firm was issued on May 11, 2016.
Ally Financial Inc. is a financial holding company and a bank holding company. It is an independent, diversified financial services firm. Its banking subsidiary, Ally Bank, is an indirect wholly owned subsidiary of the Company and a franchise in the Internet, telephone, mobile and mail banking market. Dealer Financial Services, which includes the Companys Automotive Finance and Insurance operations, and Mortgage are its primary lines of business. Ally Bank offers deposit products, such as checking, savings and certificates of deposit (CDs), as well as several raise-your-rate CD terms, IRA deposit products, Popmoney person-to-person transfer service, eCheck remote deposit capture, Ally Perks debit rewards program and Mobile Banking.