Alibaba Group Holding Limited (NYSE:BABA) lists impressive global shares at Hong Kong stock exchange

Alibaba Group Holding Limited (NYSE:BABA) lists impressive global shares at Hong Kong stock exchange

Alibaba Group Holding Limited (NYSE:BABA) lists impressive global shares at Hong Kong stock exchange

Chinese e-commerce giant, Alibaba has listed 500,000,000 worldwide shares at the Hong Kong stock exchange. Tagged the biggest listing for 2019, reports have said the company could make up to HK$100 billion ($12.86 billion).

The 500,000,000 ordinary shares Global Offering comprises of 12,500,000 public retail offerings and 487,500,000 global subscriptions.

Jasper Lawler, the Head of Research at London Capital Group said, “The advantage for Alibaba is twofold, it can diversify its shareholder base during the US-China trade war and it can command a high price in part because investors in Hong Kong are clamoring for something positive amid the protests.”

Technical Indicators

Overall, the bias in prices is: Upwards.

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

By the way, prices are vulnerable to a correction towards 176.43.

The projected upper bound is: 196.70.

The projected lower bound is: 177.16.

The projected closing price is: 186.93.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 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 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 61.5955. This is not an overbought or oversold reading. The last signal was a sell 7 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 60.87. 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 77 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 60. This is not a topping or bottoming area. The last signal was a sell 7 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 sell 4 period(s) ago.

Rex Takasugi – TD Profile

ALIBABA GRP ADR closed up 1.920 at 186.780. Volume was 23% below average (neutral) and Bollinger Bands were 31% narrower than normal.

Open     High      Low     Close     Volume___
185.770 186.780 183.950 186.780 2,274,536
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 184.83 176.43 174.09
Volatility: 23 36 35
Volume: 3,135,857 3,019,595 3,240,239

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 7.3% above 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 moderate flows of volume into BABA.N (mildly bullish). Our trend forecasting oscillators are currently bullish on BABA.N and have had this outlook for the last 18 periods.

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