Alibaba stock price fell more than -11.13% Thursday closing at $143.60

The Alibaba stock price fell by -11.13% on the last day (Thursday, 18th Nov 2021) from $161.58 to $143.60. and has now fallen 3 days in a row. During the day the stock fluctuated 4.66% from a day low at $141.89 to a day high of $148.50. The price has fallen in 6 of the last 10 days and is down by -12.86% for this period. Volume has increased on the last day by 43 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 61 million shares were bought and sold for approximately $8.72 billion.

On Nov 11, 2021 "Stifel Nicolaus" gave "$210.00" rating for BABA. The price target was set to $169.01+3.1%.

The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $141.02 will give a strong sell signal and a trend shift may be expected.Given the current horizontal trend, you can expect Alibaba stock with a 90% probability to be traded between $143.18 and $181.23 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

There are few to no technical positive signals at the moment. The Alibaba stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $162.68 and $163.65. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, October 22, 2021, and so far it has fallen -19.19%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Alibaba finds support from accumulated volume at $143.14 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $6.61 between high and low, or 4.66%. For the last week, the stock has had a daily average volatility of 3.09%.

Alibaba holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.