• support@capitalstreetfx.in     0124.400.4440

About Us

Capital Street Inter markets Limited is a Global Business Company (GBC1) incorporated and regulated by the Financial Services Commission, Mauritius. It is fully licensed and regulated by the FSC Mauritius, as a Full Services Investment Dealer....

Contact Info

  • 9th Floor, Ebene Tower, 52 Cybercity Ebene, Republic of Mauritius

  • +1-949-335-4314

  • support@capitalstreetfx.in

  • Sunday: Closed

MACQUARIE INITIATES COVERAGE OF ALIBABA WITH AN OUTPERFORM RATING, STOCKS RISE - Capital Street FX

    • Home
    • Trade Ideas
    • MACQUARIE INITIATES COVERAGE OF ALIBABA WITH AN OUTPERFORM RATING, STOCKS RISE
22-Nov
19:55 IST

In the Premarket trading session on Friday, Alibaba’s stock was trading at 185.72- higher by 0.47% as compared to its previous close.

Investment bank Macquarie started coverage of the Chinese e-commerce giant’s stock with an outperform rating and a $231 a share price target. The investment bank’s price target represents a 25% upside from its previous closing price of $184.86.

Macquarie said it is bullish on the e-commerce giant as the company continues to build up its users and services across its ecosystem. The Chinese company has raised about $11 billion in a stock offering in Hong Kong. The e-commerce giant on Wednesday set the price for the secondary share offering at $22.50 a share.

On the technical front, the current price is above the MA5 and the MA20. The current price is above the middle line of the Bollinger Bands and is heading upwards. The stock is expected to trade higher today.

 

TRADE SUGGESTION- LIMIT BUY AT 185.60 TAKE PROFIT AT 187.30 STOP LOSS AT 184.70

Leave a Reply

Your email address will not be published. Required fields are marked *

Hi Please share contact detail & write any comments below, our team will try to call soon.