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Alibaba Group Holding Limited (NYSE:BABA) take advantage of major dips

Alibaba Group Holding Limited (NYSE:BABA) take advantage of major dips

Alibaba (BABA) has been caught in the middle of the current trade rhetoric from both the U.S. and the Chinese government. Last month, we saw a decline of over 5% decline in a single day as the U.S. government announced curbs on Chinese investments in the U.S. tech sector. Recent comments by the current administration about Chinese currency have again led to a big fall in Alibaba’s stock.

Tracking the longer-term indicators on shares of Alibaba Group Holding Ltd (BABA), we have noted that the 100-day moving average verse price signal is currently Buy.

This is the signal from the 100-day MA which is used to gauge changes in stock price. The 100-day MA verse price direction is currently showing Strengthening. Another longer-term signal we have been tracking is the 60-day commodity channel index. After a recent check, we have noted that the current signal is Hold. The CCI indicator is typically used to scope out overbought and oversold levels. The CCI signal direction is presently Rising.

Overall, the bias in prices is: Sideways.

The projected upper bound is: 204.15.

The projected lower bound is: 184.12.

The projected closing price is: 194.13.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black candles.

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 75.6787. This is not an overbought or oversold reading. The last signal was a buy 2 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 52.60. 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 34 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 121.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 16 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 10 period(s) ago.

Rex Takasugi – TD Profile

ALIBABA GRP ADR closed down -3.800 at 194.180. Volume was 23% below average (neutral) and Bollinger Bands were 49% narrower than normal.

Open High Low Close Volume___
193.000 196.110 192.620 194.180 2,758,804

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

Moving Averages: 10-period 50-period 200-period
Close: 190.66 196.67 186.61
Volatility: 34 33 38
Volume: 2,745,133 3,589,714 3,887,552

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 4.1% above its 200-period moving average and is in an downward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of BABA.N at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on BABA.N and have had this outlook for the last 23 periods.