Alibaba Group Holding Limited (NYSE:BABA) Rises 4.49%
Overall, the bias in prices is: Upwards.
Short term: Prices are stalling.
Intermediate term: Prices are ranging.
By the way, prices are vulnerable to a correction towards 180.32.
The projected upper bound is: 202.02.
The projected lower bound is: 182.79.
The projected closing price is: 192.41.
A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black candles.
Separating lines occurred. If the lines occur during an uptrend (which appears to be the case with ALIBABA GRP ADR) and the first line is black and the second is white (which is the case with ALIBABA GRP ADR) then this suggests that the uptrend should continue.
If the separating lines occur during a downtrend and the first line is white and the second is black (which is not the case with ALIBABA GRP ADR) then this suggests that the downtrend should continue.
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 58.9309. This is not an overbought or oversold reading. The last signal was a buy 4 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 65.14. 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 89 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 67. This is not a topping or bottoming area. The last signal was a sell 8 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 sell 3 period(s) ago.
Rex Takasugi – TD Profile
ALIBABA GRP ADR closed up 8.260 at 192.280. Volume was 55% above average (neutral) and Bollinger Bands were 31% wider than normal.
Open High Low Close Volume___
185.000 192.390 183.550 192.280 6,026,709
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 186.81 181.13 158.26
Volatility: 33 34 34
Volume: 3,683,617 4,022,320 3,646,332
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 21.5% above its 200-period moving average and is in an upward trend. Volatility is high 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 12 periods. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.