Alibaba Group Holding Limited (NYSE:BABA) Ma said that history shows technological innovation is a primary factor behind global conflicts

Alibaba Group Holding Limited (NYSE:BABA) Ma said that history shows technological innovation is a primary factor behind global conflicts

Alibaba Group Holding Limited (NYSE:BABA) Ma said that history shows technological innovation is a primary factor behind global conflicts

Chinese billionaire Jack Ma has warnedthat technology could lead to a third world war.

The Alibaba founder said Wednesday that history shows technological innovation is a primary factor behind global conflicts.

“The first world war was because of the first technology revolution,” he said at the World Economic Forum in Davos, Switzerland. “The second technology revolution caused the second world war.”

“This is the third technology revolution — we’re coming,” Ma added.

It’s not the first time the business leader has made such a warning, however. In 2017, he made a similar comment, saying that developments in machine learning and artificial intelligence were likely to result in World War III.

Similar ominous remarks have been made by another tech billionaire — Elon Musk. The Tesla chief executive said last year that competition among governments to be leaders in the field of AI was likely to cause WWIII.

On the topic of robots and AI, Ma stressed the importance of education, saying that young people should be able to “do things machines can’t do.”‘Don’t be evil’ not enough

Despite his renewed warning, Alibaba’s executive chairman said he was still a believer in technology’s potential to do good.

He highlighted climate change as an area where tech can be used in a way that benefits society. Data, for instance, could help experts use fossil fuels “efficiently” and “smartly,” he said.

Ma said that he believes technology is “great” for humanity, but he added that not being evil was “not enough.”

“I’m not a technology person, but I’m a believer that technology is great for human beings,” Ma said. “And as a technical company, don’t be evil is not enough.”

“You should do good things for the world, do good things for the future and believe in young people.”

The “don’t be evil’” phrase was a motto used by Google and was part of its internal corporate code of conduct since 2000. Most mentions of the phrase were taken out of the code last year, although it still appears in the last sentence of the document.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 162.45.

The projected lower bound is: 141.59.

The projected closing price is: 152.02.

Candlesticks

A black body occurred (because prices closed lower 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 25 white candles and 25 black candles.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

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 45.6151. This is not an overbought or oversold reading. The last signal was a sell 1 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 55.67. 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 18 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 48. This is not a topping or bottoming area. The last signal was a sell 1 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 12 period(s) ago.

Rex Takasugi – TD Profile

ALIBABA GRP ADR closed down -0.120 at 152.030. Volume was 35% below average (neutral) and Bollinger Bands were 25% wider than normal.

Open High Low Close Volume___
154.680 155.180 150.951 152.030 2,890,074

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

Moving Averages: 10-period 50-period 200-period
Close: 152.71 148.25 170.10
Volatility: 34 46 43
Volume: 3,632,007 4,317,036 4,263,327

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 10.6% below 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 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 6 periods.

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