Alibaba Group Holding Limited Stock Analysis
Alibaba Group Holding Limited fell by -1.18% in the last day from $209.08 to $206.62 The price has risen in 6 of the last 10 days and is up by 4.36% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -2.04 million shares and in total 13.83 million shares bought and sold for approximately $2 858.17 million.
Alibaba Group Holding Limited lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 12.51% during the next 3 months and, with 90% probability hold a price between $206.67 and $252.53 at the end of this period
Alibaba Group Holding Limited holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $206.68. On a fall, the stock will find some support from the long-term average at approximately $195.28. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Tuesday June 12, 2018, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.