Alibaba Group Holding Ltd (NYSE:BABA) $200 HEFFX Target Stronger Than Ever

Alibaba Group Holding Ltd (NYSE:BABA) $200 HEFFX Target Stronger Than Ever

Alibaba Group Holding Ltd (NYSE:BABA) $200 HEFFX Target Stronger Than Ever

  • Alibaba Results Expected To Maintain Double-Digit Growth
  • Alibaba set to enter Pakistan
  • Alibaba shares to rise almost 30 percent in one year as earnings top expectations
  • Alibaba Makes Its First FinTech Investment In Hong Kong
  • Alibaba signs agreement with Malaysian and Chinese governments

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally. Its businesses consist of core commerce, cloud computing, mobile media and entertainment, and other innovation initiatives. Through investee affiliates, it also participates in the logistics and local services sectors. Retail commerce in China operated by the Company includes the China online commerce destination (Taobao Marketplace); the China third-party platform for brands and retailers (Tmall), and the sales and marketing platform for flash sales (Juhuasuan). Wholesale commerce in China operated by the Company includes the China domestic wholesale marketplace (1688.com) and the wholesale marketplace for global trade (Alibaba.com).

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

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

By the way, prices are vulnerable to a correction towards 112.04.

The projected upper bound is: 127.53.

The projected lower bound is: 120.71.

The projected closing price is: 124.12.

ALIBABA GRP ADR closed down -0.320 at 123.700. Volume was 100% below average (consolidating) and Bollinger Bands were 35% wider than normal.

Open           High             Low             Close           Volume
123.700      123.700       123.700       123.700      2,935

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period        50-period        200-period
Close:                       119.84              111.60              101.27
Volatility:                19                     19                      28
Volume:                   9,565,635      9,305,486       12,738,070

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 22.1% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into BABA.K (mildly bullish). Our trend forecasting oscillators are currently bullish on BABA.K and have had this outlook for the last 41 periods. Our momentum oscillator is currently indicating that BABA.K is currently in an overbought condition.

HEFFX Momentum

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 93.2693. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 10 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 79.85. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 10 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 145.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 10 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 6 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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