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.

Trend

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

Signals

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.

source: StockInvest.US