Alibaba Group Holding Limited (NYSE:BABA) trying to win over U.S. consumers
Alibaba is China’s largest e-commerce platform. In its latest earnings report,the company disclosed having 636 million annual active consumers on its China retail marketplaces. That’s almost double the entire population of the United States.
Alibaba’s reach today expands far beyond e-commerce. Its realm now covers cloud computing (Alibaba Cloud), digital media and entertainment, (Youku, Alibaba Pictures, Damai, Alibaba Music, Alisports.com) and logistics services (Cainiao). Alibaba is also part owner of financial services company Ant Financial.
Despite its enormous Chinese following, Alibaba is still not a well known brand to many Americans.
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 166.67.
The projected upper bound is: 195.69.
The projected lower bound is: 176.23.
The projected closing price is: 185.96.
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 29 white candles and 21 black candles for a net of 8 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 72.7796. This is not an overbought or oversold reading. The last signal was a sell 0 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 71.28. 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 17 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 85. This is not a topping or bottoming area. The last signal was a sell 0 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 6 period(s) ago.
Rex Takasugi – TD Profile
ALIBABA GRP ADR closed down -2.250 at 185.000. Volume was 31% below average (neutral) and Bollinger Bands were 12% wider than normal.
Open High Low Close Volume___
187.000 188.050 185.000 185.000 2,761,900
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 180.98 159.49 168.51
Volatility: 28 41 43
Volume: 3,188,274 3,356,218 4,197,009
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 9.8% 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 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 34 periods. Our momentum oscillator is currently indicating that BABA.N is currently in an overbought condition.