Could Weibo Corp (ADR) (WB) See a Reversal After Having Formed Several Months Double Top Pattern

July 18, 2017 - By Stephen Andrade

Investors sentiment decreased to 1.22 in Q4 2016. Its down 2.19, from 3.41 in 2016Q3. It turned negative, as 44 investors sold Weibo Corp (ADR) shares while 37 reduced holdings. 52 funds opened positions while 47 raised stakes. 22.23 million shares or 46.89% less from 41.86 million shares in 2016Q3 were reported.
Parallax Volatility Advisers Limited Partnership reported 7,337 shares. Grantham Mayo Van Otterloo Ltd Com holds 0.1% or 463,530 shares. Tower Research Lc (Trc) holds 0% of its portfolio in Weibo Corp (ADR) (NASDAQ:WB) for 839 shares. Maverick Capital Limited reported 24,950 shares. British Columbia Management Corporation accumulated 0% or 7,200 shares. Century Inc has 261,209 shares. Manufacturers Life Insurance The has invested 0.01% in Weibo Corp (ADR) (NASDAQ:WB). 56,000 are held by Pacad. Gam Ag invested in 83,460 shares or 0.06% of the stock. Shell Asset Mgmt Company reported 0.01% stake. 42,557 are owned by Citigroup. Andra Ap reported 28,700 shares or 0.03% of all its holdings. Ci stated it has 12,290 shares or 0.01% of all its holdings. Shellback Capital L P invested 0.1% of its portfolio in Weibo Corp (ADR) (NASDAQ:WB). Harvard, Massachusetts-based fund reported 15,840 shares.

The chart of Weibo Corp (ADR) (WB) shows a double top with $78.22 target or 8.00 % above today’s $72.43 share price. The 8 months chart pattern indicates low risk for the $16.10 billion company. It was reported on Jul, 18 by If the $78.22 price target is reached, the company will be worth $1.29 billion more. Double tops are rare but powerful chart patterns.

The stock decreased 2.53% or $1.88 during the last trading session, reaching $72.43. About 179 shares traded. Weibo Corp (ADR) (NASDAQ:WB) has risen 239.00% since July 18, 2016 and is uptrending. It has outperformed by 222.30% the S&P500.

Weibo Corp (ADR) (NASDAQ:WB) Ratings Coverage

Among 9 analysts covering Weibo Corp (NASDAQ:WB), 6 have Buy rating, 0 Sell and 3 Hold. Therefore 67% are positive. Weibo Corp had 15 analyst reports since August 19, 2015 according to SRatingsIntel. The stock of Weibo Corp (ADR) (NASDAQ:WB) earned “Buy” rating by Piper Jaffray on Wednesday, August 19. The rating was maintained by Morgan Stanley with “Overweight” on Tuesday, April 19. Zacks downgraded the stock to “Hold” rating in Wednesday, August 26 report. The rating was maintained by Goldman Sachs with “Neutral” on Thursday, August 11. Jefferies maintained Weibo Corp (ADR) (NASDAQ:WB) rating on Thursday, June 22. Jefferies has “Buy” rating and $8200 target. The rating was reinitiated by JP Morgan on Wednesday, August 31 with “Overweight”. The stock of Weibo Corp (ADR) (NASDAQ:WB) has “Neutral” rating given on Thursday, October 29 by Citigroup. The company was upgraded on Thursday, August 27 by Summit Research. The stock of Weibo Corp (ADR) (NASDAQ:WB) has “Overweight” rating given on Thursday, December 17 by Morgan Stanley. Goldman Sachs downgraded Weibo Corp (ADR) (NASDAQ:WB) on Monday, May 16 to “Neutral” rating.

More notable recent Weibo Corp (ADR) (NASDAQ:WB) news were published by: which released: “Weibo Corp (ADR) (WB) Looks Like Twitter (TWTR), Grows Like Facebook Inc (FB)” on April 21, 2017, also with their article: “The 5 Biggest Risks to Weibo Corp. (ADR) Stock” published on February 26, 2017, published: “Weibo Corp (ADR) (WB) Stock Pops on Q1 Beat, But Is It Bubblicious?” on May 16, 2017. More interesting news about Weibo Corp (ADR) (NASDAQ:WB) were released by: and their article: “Weibo Corp (ADR) (WB) Stock Goes Cold Despite Hot Q4 Earnings” published on February 23, 2017 as well as‘s news article titled: “5 Reasons I’m Buying Weibo Corp (ADR) Stock” with publication date: January 27, 2017.

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