Look for information about Alibaba Group Holding Limited (NYSE:BABA) cloud segment and b-to-b efforts as well on Wednesday

Look for information about Alibaba Group Holding Limited (NYSE:BABA) cloud segment and b-to-b efforts as well on Wednesday

Look for information about Alibaba Group Holding Limited (NYSE:BABA) cloud segment and b-to-b efforts as well on Wednesday

Amid investor uncertainty about the state of China’s economy and the effect of trade tensions, Alibaba Group Holding Ltd. will provide its take about consumer spending in the country Wednesday.

The Chinese e-commerce giant is due to report fiscal third-quarter results before the market opens Wednesday. The company’s holiday-period results will show whether it suffered as well from a general deceleration in e-commerce spending, which the Chinese government reported for the December quarter.

Baird analyst Colin Sebastian said that Alibaba BABA, -0.18% might be more immune than others to some of the macroeconomic issues impacting spending levels in the country, as big-ticket items like electronics and appliances have been among the categories most affected by China’s slowdown. Still, he recently trimmed his estimates for Alibaba’s March-ending fiscal year “to reflect a less supportive China macro backdrop.”

Sebastian noted that growth picked up a bit in the month of December, so investors should pay close attention to management’s commentary about spending backdrops for signs of a rebound. He rates the stock at outperform with a $178 target price.

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 169.56.

The projected lower bound is: 148.93.

The projected closing price is: 159.24.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

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 78.3104. This is not an overbought or oversold reading. The last signal was a sell 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 63.18. 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 21 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 117.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. 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 buy 15 period(s) ago.

Rex Takasugi – TD Profile

ALIBABA GRP ADR closed down -0.290 at 158.920. Volume was 42% below average (neutral) and Bollinger Bands were 24% wider than normal.

Open High Low Close Volume___
157.960 159.680 155.300 158.920 2,555,127

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

Moving Averages: 10-period 50-period 200-period
Close: 154.62 148.99 169.86
Volatility: 33 45 43
Volume: 3,524,142 4,275,618 4,262,239

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 6.4% 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 9 periods.

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