Volatile ride for Alibaba stock price on Wednesday moving between $87.12 and $105.74

The Alibaba stock price gained 36.76% on the last trading day (Wednesday, 16th Mar 2022), rising from $76.76 to $104.98. During the day the stock fluctuated 21.37% from a day low at $87.12 to a day high of $105.74. The price has fallen in 8 of the last 10 days and is down by -0.42% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 72 million more shares were traded than the day before. In total, 157 million shares were bought and sold for approximately $16.51 billion.

On Mar 14, 2022 "JPMorgan Chase & Co." gave "$180.00 - $65.00" rating for BABA. The price target was changed from $77.76 to 10.3%.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -19.24% during the next 3 months and, with a 90% probability hold a price between $61.62 and $94.79 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

A buy signal was issued from a pivot bottom point on Tuesday, March 15, 2022, and so far it has risen 36.76%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Alibaba stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $110.99. On a fall, the stock will find some support from the short-term average at $91.08. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Alibaba finds support from accumulated volume at $100.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $18.62 between high and low, or 21.37%. For the last week, the stock has had a daily average volatility of 10.29%.

Alibaba 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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.