Breakout Stocks of Week 15 @ OTCBB
NASDAQ was down last week (week 14) by -0.799% ending at 16,248.52 points after falling -130.94 points during the week. Our system has detected some possible breakout stocks for the following week and these should be on your watchlist. These are the stocks that are bouncing up with good increase in volume and are likely to do good in short term. One of these stocks are Alibaba Group Holding Ltd OTCBB:BABAF. This stock has had a buy signal since Apr 04, 2024 when the price was $8.75 and is so far up 2.34% to $8.96. Some other companies are on our watchlist to, among these are which all got a breakout pattern emerging.
| Date | Company | Price | Week 15 |
|---|---|---|---|
| Alibaba Group Holding Ltd | $8.96 | $8.98 | 0.279% |
The Alibaba Group Holding Ltd stock price gained 2.34% on the last trading day (Friday, 5th Apr 2024), rising from $8.75 to $8.96. During the last trading day the stock fluctuated 0% from a day low at $8.96 to a day high of $8.96. The price has fallen in 6 of the last 10 days and is down by -3.71% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 319 thousand more shares were traded than the day before. In total, 320 thousand shares were bought and sold for approximately $2.87 million.
Alibaba Group Holding Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About Alibaba Group Holding Ltd:
Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. It operates through four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others. The company operates Taobao Marketplace, a social commerce platform; Tmall, a third-party online and mobile commerce platform for brands and retailers; Alimama, a monetization platform; 1688.com and Alibaba.com, which are online wholesale marketplaces; AliExpress, a retail marketplace; Lazada, Trendyol, and Daraz that are e-commerce platforms; and Tmall Global and Kaola, which are import e-commerce platforms. It also operates Lingshoutong that connects FMCG manufacturers and their distributors to small retailers; Cainiao Network logistic services platform; Ele.me, an on-demand delivery and local services platform; Koubei, a restaurant and local services guide platform; and Fliggy, an online travel platform. In addition, the company offers pay-for-performance, in-feed, and display marketing services; and Taobao Ad Network and Exchange, a real-time online bidding marketing exchange. Further, it provides elastic computing, database, storage, virtualization network, large-scale computing, security, management and application, big data analytics, machine learning platform, and Internet of Things services. Additionally, the company operates Youku, an online video platform; Alibaba Pictures and other content platforms that provide online videos, films, live events, news feeds, literature, music, and others; Amap, a mobile digital map, navigation, and real-time traffic information app; DingTalk, a business efficiency app; and Tmall Genie, an AI-enabled smart speaker. The company was incorporated in 1999 and is based in Hangzhou, the People's Republic of China.
Despite these candidates are looking good from a technical perspective they may not perform as expected. You should always be cautious when trading and base your decisions on more than one source of information. This does not constitute an offer or recommendation to buy or sell securities.
