Alibaba Group Holding Limited (NYSE:BABA) Group thwarts 300 million hack attempts per day
Chinese technology giant Alibaba Group is the target of some 300 million attempted cyber attacks per day, according to the company’s founder and former executive chairman, Jack Ma.
Ma said he was “proud” that despite the tirade of subterfuge, Alipay — the group’s payments arm which reports close to 1 billion users and processes $50 billion worth of transactions per day — has yet to lose “one cent” to hackers.
“For Alibaba Group, we have over 300 million hacking attempts per day. Every day. But we deal (with) it. We don’t have even one problem,” Ma said at the Forbes Global CEO Conference in Singapore on Tuesday.
By way of contrast, embattled Chinese technology giant Huawei is subject to around 1 million daily cyberattacks, according to its security chief. Until now, other technology companies have been less forthcoming in revealing their cyber attack vulnerabilities.
Alibaba faced a sweeping cyber attack attempt in February, which threatened to compromise the accounts of 20 million users on its Taobao e-commerce site. The company said it detected the attack “in the first instance.”
Ma cited the company’s advanced tech capabilities, which he dubbed “AI: Alibaba Intelligence,” for its continued success rate, noting that machines are superior to humans in using logic to thwart malicious online behavior.
“We teach the machine all the ways people (are) cheating,” said Ma. “The machine remembers over millions of ways of cheating, so when we start the cheating, (the) machine already knows you are cheating. In this way we are protecting all the technology.”
To achieve that degree of accuracy, however, Ma noted the company must collect vast swathes of customer data. He argued that doing so allowed Alibaba to develop safeguards to detect bad human actors.
“Give my data to a machine,” said Ma. “I trust a machine more than (I) trust people.”
“I give my data to people, I worry about that. People say ‘ah, this is Jack Ma, I want to know about him.’ Machine(s) don’t care if you’re Jack Ma or Jack Lee. Machine cares whether you do good things or bad things.”
Ma retired from Alibaba last month, 20 years after the company’s founding. At the conference in Singapore, he was honored with the Malcolm S Forbes Lifetime Achievement Award for his “outstanding” contributions to entrepreneurship.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 186.43.
The projected lower bound is: 165.01.
The projected closing price is: 175.72.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 4 black candles for a net of 1 white candles. During the past 50 bars, there have been 23 white candles and 26 black candles for a net of 3 black candles.
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 82.0610. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 9 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 55.23. 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 49 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 135.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 4 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 1 period(s) ago.
Rex Takasugi – TD Profile
ALIBABA GRP ADR closed up 4.130 at 175.290. Volume was 37% below average (neutral) and Bollinger Bands were 2% wider than normal.
Open High Low Close Volume___
172.950 176.750 172.690 175.290 2,011,790
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 168.65 171.04 170.60
Volatility: 41 40 38
Volume: 2,218,079 2,650,952 3,287,673
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 is currently 2.8% above its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of BABA.N at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on BABA.N and have had this outlook for the last 11 periods.
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