Alibaba Group Holding Limited (NYSE:BABA) Oscar-Winning Studio

Alibaba Group Holding Limited (NYSE:BABA) Oscar-Winning Studio

Alibaba Group Holding Limited (NYSE:BABA) Oscar-Winning Studio

When the Academy Awards were presented on 2/24/19, the movie “The Green Book” won three awards including best picture. “Green Book” has won 18 awards since it debuted last November, including three Golden Globe Awards. While a movie winning so many awards is impressive, what is particularly noteworthy is the fact that one of the movie’s backers is Alibaba Pictures, the film-financing and production arm of Chinese internet giant Alibaba Group.

Other Oscar-nominated films it has been involved in include Lebanese actress-director Nadine Labaki’s “Capernaum” and “On the Basis of Sex,” an early-years biopic of Supreme Court Justice Ruth Bader Ginsburg.

Background on Alibaba Pictures

Alibaba Pictures traces its genesis back to 2014 when it bought a 60% stake in ChinaVision. It initially registered the company in Hong Kong under the Alibaba Films Group and subsequently changed the name to Alibaba Pictures.

During December 2018, Alibaba Group announced that it increased its stake in Alibaba Pictures to approximately 50.92%, becoming the majority holder in the company. The increased stake also makes it a subsidiary of Alibaba Group, according to a company press release.

Synergies

Alibaba Pictures hopes to leverage Alibaba’s edge in big-data technology and e-commerce and enhance cooperation with other Alibaba’s digital media and entertainment businesses such as Youku (online video), Damai (online ticketing) and Alibaba Literature.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 193.77.

The projected lower bound is: 177.73.

The projected closing price is: 185.75.

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 29 white candles and 21 black candles for a net of 8 white 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 60.6469. This is not an overbought or oversold reading. 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 54.73. 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 sell 32 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 15. This is not a topping or bottoming area. The last signal was a sell 4 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 0 period(s) ago.

Rex Takasugi – TD Profile

ALIBABA GRP ADR closed down -1.560 at 185.380. Volume was 15% below average (neutral) and Bollinger Bands were 38% narrower than normal.

Open High Low Close Volume___
184.360 186.460 183.640 185.380 2,654,264

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 186.25 179.88 165.60
Volatility: 27 28 43
Volume: 2,621,682 2,683,251 3,975,908

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 11.9% above its 200-period moving average and is in an upward trend. Volatility is relatively normal 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 1 periods.

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