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Weibo Makes New All-Time High And Retreats

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Weibo Corp (ADR) (NASDAQ: WB) shares are trading higher by $2.10 at $110.68 in Tuesday's session. This comes on top of Monday's gain of $3.42 ($105.16 to $108.58).

After a flat open, Weibo retreated and drifted lower until it found intraday support at $107.09 and resumed its move higher. The pace of the rally accelerated once the stock cleared the pair of highs from November 9 ($110.48, which is also was its former all-time high) and flanked by its November 10 high of $110.48.

So far, the ensuing rally took the stock to $113.63, but fell back into the upper $110.00 handle.

Posted-In: Technicals Intraday Update Movers Trading Ideas

 

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