Loading...
Loading...
shares were trading higher by $2.66 (1.2 percent) at $205.13 in Monday's session. There are two separate catalysts for today's rally.
First, the issue was mentioned favorably in Barron's over the weekend as a way to participate in future of the Chinese stock market.
In addition, the issue was upgraded by T.H. Capital from Hold to Buy with at $239 price target as the company begins to implement new strategies.
The timing of the bullish commentary came at a critical time for the issue, as it had breached major support at the $200 level on Friday, reaching $196.13 before rebounding to close at $202.47.
In Monday's session, it rallied off a higher open to $206.90, which is well shy of Thursday's high of $211.93. It has not closed under $200 since October 14, when it ended the session at $199.07.
The all-time high for the issue was made in December at $242.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in