Markets

Here’s A Quick Technical Analysis Of Alibaba Group Holding Limited (BABA)

Alibaba Group Holding Limited (NYSE:BABA) fell by -1.15% in Thursday’s trading session from $178.96 to $176.90. The price has been moving in both directions for this period, and there has been a 3.3% gain over 10-day period. There was a decrease in both volume and price. This is usually interpreted as a good sign as traders widely believe falling stock should see declining volume. Traded activity experienced a fall of -0.08 million shares and in total 21.83 M shares exchanged hands for about $3 862.35 million.

Inside BABA’s Recent Trend

Alibaba Group Holding Limited (BABA) lies in the middle of a wide and strong rising trend in the short term and issued considerable signs about additional rally. Short-term traders are predicted to see a rally of 26.98% over the course of a quarter and, with 90% chance the price will be floating in the range of $210.86 and $235.13 in this timeframe.

Alibaba Group Holding Limited Technical Signals



BABA has witnessed its long term and short term MA triggering a buy signal. Many traders watch for short-term averages to cross above long-term averages to signal the beginning of a uptrend. Upon corrections, the price will meet support from the averages between $173.26 and $164.55. A break down through these support points will trigger sell signals. Some other technical concerns emerged as well, putting in risk the future growth of the stock in the next couple of days. Its pivot point high generated sell signal on Wednesday September 13, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. The downbeat movement of both volume and price during the recent session is interpreted as a good sign because traders usually believe falling stock should see declining volume.

Alibaba Group Holding Limited (NYSE:BABA) Support And Resistance Levels

Alibaba Group Holding Limited (BABA) recorded volume accumulation so there will probably be a surplus of buyers at $171.74. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $178.96.




Accumulated volume is going to prevent the price from rising further at $178.96 and this action will lead the price to take a temporary pause or stay muted for a few days.

Alibaba Group Holding Limited (BABA) Risk Assessment

The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $3.91 (2.22%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 1.69%.

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