End of Day Alert: Alibaba Group (09988: HKD85.70) adds HKD144 billion ($19 billion) (7.5%) in MCap, top heavyweight rise in Hang Seng 17 May 2024

NEWS BITES - BRIC

Alibaba Group Holding Limited's (HK: 09988 HKD85.70) stock price surged HKD6.0 (7.5%) from its previous trading session to close at HKD85.70.

Compared with the Hang Seng which rose 177.1 points (0.9%) in the day, the relative price increase was 6.9%.

Alibaba Group Holding Limited is Hong Kong's 2nd largest Internet/Online services company by market cap. It posted the highest rise in MCap HKD144.4 billion ($18.5 billion) with the most influence on the Hang Seng. Its MCap is HKD2,062.7 billion ($264.4 billion).

There were 111,460,000 shares worth HKD9.6 billion ($1.2 billion) traded today. Friday's price rise was propped up by extraordinary volume of 3.6 times the average daily volume of 30.7 million shares.

Bearish Turning Points

Relative Strength Index (RSI)

The Relative Strength Index (RSI) of 73.3 has penetrated the overbought line of 70, suggesting the price gain of 13.8% in the last 14 days is unusually high. The RSI was previously 66.6.

Williams % R

The stock is overbought according to the Williams % R indicator of -1.6, suggesting the price is close to its 14-day high. The Williams % R was previously -32.9.

To view today's Bullish and Bearish signals for Alibaba Group, click here

Alibaba Group Holding Limited (HK:09988)

ISIN: KYG017191142

Source: www.BuySellSignals.com