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Alibaba Group Holding Limited (NYSE:BABA) reached at $190.79 price level during last trade

Alibaba Group Holding Limited (NYSE:BABA) reached at $190.79 price level during last trade

On Wednesday, Alibaba Group Holding Limited(NYSE:BABA) reached at $190.79 price level during last trade its distance from 20 days simple moving average is -0.70%, and its distance from 50 days simple moving average is -3.38% while it has a distance of 2.49% from the 200 days simple moving average.

Alibaba is investing big bucks into offline distribution. The Chinese e-commerce giant has forked out $2.23 billion in exchange for a sizeable piece of Focus Media, a Shanghai-based company that operates outdoor digital advertising screens across , Singapore and , according to a U.S. filing.

The deal itself is broken up into a few pieces. Alibaba itself is paying $1.43 billion for a 6.62 percent share of Focus Media, which is listed in Shanghai, It is also spending $504.7 million to buy 10 percent of an entity (managed by Focus Media founder and chairman Jason Nanchun Jiang) which controls 23.34 percent of Focus Media.

BABA revealed weekly performance of 1.80% and shown yearly performance of 24.09%. The stock moved to 3.79% in last six months and it maintained for the month at -8.52%. The stock noted year to date performance at 10.65% and changed about 4.44% over the last three months. The stock’s price situated at -11.52% from 52 week high and stock price seen at 27.00% when looking at 52 week low price.

Overall, the bias in prices is: Downwards.

Note: this chart shows extraordinary price action to the downside.

The projected upper bound is: 196.48.

The projected lower bound is: 177.84.

The projected closing price is: 187.16.

Candlesticks

A black body occurred (because prices closed lower 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 22 white candles and 28 black candles for a net of 6 black candles.

A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow). This usually implies a continuation of a bearish trend. There have been 3 falling windows in the last 50 candles–this makes the current falling window even more bearish.

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 51.2254. This is not an overbought or oversold reading. The last signal was a sell 6 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 41.37. 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 29 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 -35. This is not a topping or bottoming area. The last signal was a buy 11 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 5 period(s) ago.

Rex Takasugi – TD Profile

ALIBABA GRP ADR closed down -3.450 at 187.340. Volume was 38% below average (neutral) and Bollinger Bands were 29% narrower than normal.

Open High Low Close Volume___
188.500 189.640 186.870 187.340 2,327,987

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

Moving Averages: 10-period 50-period 200-period
Close: 190.63 197.19 186.32
Volatility: 29 30 38
Volume: 2,679,782 3,627,018 3,875,450

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 gapped down today (bearish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
ALIBABA GRP ADR is currently 0.5% 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 18 periods.