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Alibaba Group Holding Limited (NYSE:BABA) draws intense interest from investors

Alibaba Group Holding Limited (NYSE:BABA) draws intense interest from investors

Analysts are calling e-retailer Alibaba Group Holding Ltd (NYSE: BABA) the “Amazon of ” and for good reason, as the company seems to have opened the throttle financially in recent months and revenues are pouring in.

The online-only retailer, founded in 1999, first traded publicly traded in the U.S. in 2014. Alibaba’s initial public offering was the largest ever IPO at the time, with a market cap of $231 billion. The form has only trended upward since then, as BABA now carries a market capitalization of nearly $480 billion and was named earlier this year as one of U.S. News’s best stocks to buy for 2018.

Chinese e-commerce giant is building an ecosystem of digital services which it says will see customer experience enhanced by augmented reality, AI, and facial recognition.

Overall, the bias in prices is: Downwards.

Note: this shows extraordinary price action to the downside.

By the way, prices are vulnerable to a correction towards 192.12.

The projected upper bound is: 196.17.

The projected lower bound is: 177.55.

The projected closing price is: 186.86.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black candles.

A doji star occurred (where a doji gaps above or below the previous candle). This often signals a reversal with confirmation occurring on the next bar.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 16.0464. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 8 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 40.96. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 31 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -93. This is not a topping or bottoming area. The last signal was a buy 13 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 7 period(s) ago.

Rex Takasugi – TD Profile

ALIBABA GRP ADR closed down -0.210 at 187.040. Volume was 44% below average (neutral) and Bollinger Bands were 59% narrower than normal.

Open High Low Close Volume___
187.000 187.800 184.800 187.040 2,082,829

Technical Outlook
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 189.56 196.84 186.40
Volatility: 23 30 37
Volume: 2,551,328 3,548,619 3,869,421

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

ALIBABA GRP ADR is currently 0.3% above its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of BABA.N (mildly bearish). Our trend forecasting oscillators are currently bearish on BABA.N and have had this outlook for the last 20 periods.