Alibaba Group Holding Limited (NYSE:BABA) Alibaba chairman has been a Communist Party member since his college days

Alibaba Group Holding Limited (NYSE:BABA) Alibaba chairman has been a Communist Party member since his college days

Alibaba Group Holding Limited (NYSE:BABA) Alibaba chairman has been a Communist Party member since his college days

Jack Ma, executive chairman of China’s largest e-commerce platform Alibaba, has been a member of the 89.6 million-strong Communist Party since his university days in the 1980s. Alibaba owns the South China Morning Post.

Back then, Ma was in his early 20s and was chairman of the student union at Hangzhou Normal University. He became a Party member in his sophomore or junior year, according to a social media post by one of Ma’s classmates that was widely circulated by news outlets including People’s Daily and Xinhua late on Tuesday.

“At that time, joining the Party not only required hard study, but also integrity, organisational ability, enthusiasm and idealism,” said Ma’s classmate in the post, adding that Ma was “really one in a hundred”.

As student union chairman, Ma spoke a lot about how to help the students in need and organised many activities as “conditions were bitter”, according to the post. They included a talent contest to pick out the 10 best singers and organising hundreds of students to earn extra cash by becoming temporary train conductors during the annual Spring Festival travel period.

The identity of the Weibo poster has not been revealed, although the person says he or she was the chairman of the students union in the chemistry department of the University at the time.

Overall, the bias in prices is: Downwards.

The projected upper bound is: 169.21.

The projected lower bound is: 143.61.

The projected closing price is: 156.41.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black candles.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

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 82.1531. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 5 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 56.82. 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 buy 31 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 128.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 5 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 18 period(s) ago.

Rex Takasugi – TD Profile

ALIBABA GRP ADR closed up 0.450 at 156.460. Volume was 23% below average (neutral) and Bollinger Bands were 11% narrower than normal.

Open High Low Close Volume___
154.810 157.930 153.600 156.460 3,680,612

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

Moving Averages: 10-period 50-period 200-period
Close: 151.55 151.03 177.24
Volatility: 45 56 43
Volume: 4,195,036 4,539,020 4,161,459

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 11.7% below its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of BABA.N at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on BABA.N and have had this outlook for the last 8 periods. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.

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