Alibaba Group Holding Limited (NYSE:BABA) developed a new website to double the number of global brands
Alibaba Group Holding Ltd. has set up a new website to double the number of global brands on its flagship online mall, taking an important step toward fulfilling its global ambitions.
The e-commerce giant began offering an English-language portal on Tmall for the first time on Wednesday to entice more merchants from around the world to sell to Chinese consumers. Alibaba is counting on the initiative to help double the number of foreign brands on Tmall Global to 40,000 in three years, said Yi Qian, deputy general manager of the service, which caters to buyers of foreign goods.
Alibaba is seeking new growth engines to offset a cooling economy at home as the trade war rages on, while fending off increasingly aggressive competitors including JD.com Inc. and Pinduoduo Inc. Billionaire co-founder Jack Ma had set a goal of generating more than half of the company’s revenue from outside of China by 2025.
“The website will widen our reach to merchants, especially to those medium and small sized businesses around the world,” Yi said in an interview. “We will help them with our logistics and marketing services.”
Alibaba grew to become China’s largest public company by popularizing e-commerce across the world’s No. 2 economy, on which it still depends for the vast majority of its business. It’s begun making inroads into Southeast Asia through the acquisition of Lazada, but now aims to broaden its reach even further.
Tmall’s new portal allows English-speaking merchants to fill in details online about their products. Alibaba then vets them based on category and quality, and will contact merchants within 72 hours to gauge if their products are a fit, Yi said. Previously, such sellers could only join Tmall through personal introduction, or by signing up at trade fairs. Other foreign-language versions of the website are in the works, including Spanish, Japanese and Korean.
Alibaba doesn’t disclose dealings over its Tmall platform, which helps merchants sell goods to 600 million-plus buyers, but it’s one of the single largest online retailers in China’s $1 trillion e-commerce arena. Jiang Fan, one of Jack Ma’s closest lieutenants, said in April the company wanted to double transaction volumes on its Tmall service in three years.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 178.80.
The projected lower bound is: 158.61.
The projected closing price is: 168.71.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black candles.
A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).
A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 3 rising windows in the last 50 candles–this makes the current rising window even more bullish.
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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 58.0420. This is not an overbought or oversold reading. 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 57.75. 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 16 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 105.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 2 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 14 period(s) ago.
Rex Takasugi – TD Profile
ALIBABA GRP ADR closed up 3.190 at 168.990. Volume was 36% above average (neutral) and Bollinger Bands were 18% wider than normal.
Open High Low Close Volume___
168.250 171.230 168.150 168.990 4,888,831
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 164.80 170.17 162.72
Volatility: 28 38 44
Volume: 4,728,059 4,255,782 4,000,431
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.
ALIBABA GRP ADR gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
ALIBABA GRP ADR is currently 3.9% above its 200-period moving average and is in an upward 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 bullish on BABA.N and have had this outlook for the last 5 periods. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.
Latest posts by HEFFX Australia (see all)
- The Walt Disney Company (NYSE:DIS) reported better-than-expected quarterly results - November 8, 2019
- Rapper Drake has partnered with Canopy Growth on a new cannabis venture - November 8, 2019
- Dow Jones Industrial Average (.DJI) Record High On China News As This Key Stock Breaks Out - November 8, 2019