Alibaba Group Holding Limited (NYSE:BABA) rebounded getting another lift from on Jan. 30
Alibaba stock hit a bottom on Jan. 3, the same day Apple stock crashed on China iPhone demand warning. But since then shares have rebounded, getting another lift from Alibaba earnings on Jan. 30. The RS line actually has been trending higher since Oct. 10. Alibaba stock is building the right side of a cup base with a 211.80 buy point, though it closed Friday at 183.88.
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 164.20.
The projected upper bound is: 194.60.
The projected lower bound is: 174.75.
The projected closing price is: 184.68.
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 28 white candles and 22 black candles for a net of 6 white 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 85.0214. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 15 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 73.97. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 15 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 107.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 6 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 4 period(s) ago.
Rex Takasugi – TD Profile
ALIBABA GRP ADR closed up 0.850 at 183.880. Volume was 17% below average (neutral) and Bollinger Bands were 0% wider than normal.
Open High Low Close Volume___
185.030 186.900 183.380 183.880 3,344,848
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 177.39 157.60 168.62
Volatility: 29 42 43
Volume: 3,160,427 3,436,885 4,197,630
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 9.1% 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 32 periods. Our momentum oscillator is currently indicating that BABA.N is currently in an overbought condition.