RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of 9988.HK
Powered by GPT-4
Upgraded!
Stock Analysis
Risk Assessment
Trading Strategy

Stronger technical forecast for ALIBABA GRP HLD/SH SH stock price after Thursday trading.
(Updated on Mar 28, 2024)

Buy candidate since Mar 28, 2024 PDF

The ALIBABA GRP HLD/SH SH stock price gained 2.11% on the last trading day (Thursday, 28th Mar 2024), rising from HK$68.80 to HK$70.25. During the last trading day the stock fluctuated 3.39% from a day low at HK$69.35 to a day high of HK$71.70. The price has fallen in 5 of the last 10 days and is down by -4.36% for this period. Volume fell on the last day by -3 million shares and in total, 63 million shares were bought and sold for approximately HK$4.45 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect ALIBABA GRP HLD/SH SH stock with a 90% probability to be traded between HK$67.72 and HK$78.20 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.

Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.

9988.HK Signals & Forecast

The ALIBABA GRP HLD/SH SH 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 HK$70.64 and HK$72.16. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 2.11%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for ALIBABA GRP HLD/SH SH stock

ALIBABA GRP HLD/SH SH finds support from accumulated volume at HK$69.30 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$2.35 (3.39%) between high and low. For the last week, the stock has had daily average volatility of 2.53%.

Our recommended stop-loss: HK$66.89 (-4.78%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)

Trading Expectations (9988.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect ALIBABA GRP HLD/SH SH to open at HK$70.43, and during the day (based on 14 day Average True Range), to move between HK$68.18 and HK$72.32, which gives a possible trading interval of +/-HK$2.07 (+/-2.95%) up or down from last closing price. If ALIBABA GRP HLD/SH SH takes out the full calculated possible swing range there will be an estimated 5.90% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at HK$70.30 (0.07%) than the support at HK$69.30 (1.35%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is ALIBABA GRP HLD/SH SH stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.373 Buy Candidate Upgraded

Predicted Opening Price for ALIBABA GRP HLD/SH SH of Tuesday, April 2, 2024

Fair opening price April 2, 2024 Current price
HK$70.43 ( 0.261%) HK$70.25

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for 9988.HK

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 72.78 3.61 %
R2 71.89 2.33 %
R1 71.33 1.54 %
Current price: 70.25
Support S1 69.54 -1.02 %
S2 68.98 -1.81 %
S3 68.08 -3.08 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 74.85 6.55 %
R2 72.60 3.35 %
R1 70.30 0.0712 %
Current price 70.25
Support S1 69.30 -1.35%
S2 67.65 -3.70%
S3 65.45 -6.83%

9988 Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Dec 20, 2023 Dec 20, 2023 Dec 20, 2023 HK$0 0%

FAQ

What is the symbol for ALIBABA GRP HLD/SH SH Stock and on which exchange is it traded?
The symbol for ALIBABA GRP HLD/SH SH is 9988.HK and it is traded on the HKEX (Hong Kong Stock Exchange).

Should I buy or sell ALIBABA GRP HLD/SH SH Stock?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

How to buy ALIBABA GRP HLD/SH SH Stock?
ALIBABA GRP HLD/SH SH Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy ALIBABA GRP HLD/SH SH Stock.

What's the current price of ALIBABA GRP HLD/SH SH Stock?
As of the end of day on the 2024-03-28, the price of an ALIBABA GRP HLD/SH SH (9988.HK) share was HK$70.25.

What is the 52-week high and low for ALIBABA GRP HLD/SH SH Stock?
The 52-week high for ALIBABA GRP HLD/SH SH Stock is HK$102.00 and the 52-week low is HK$64.60.

What is the market capitalization of ALIBABA GRP HLD/SH SH Stock?
As of the 2024-03-28, the market capitalization of ALIBABA GRP HLD/SH SH is 1.461T.
Click to get the best stock tips daily for free!

About ALIBABA GRP HLD/SH SH

ALIBABA GRP HLD/SH SH Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiativ... 9988.HK Profile

Top Fintech Company

StockInvest.us featured in The Global Fintech Index 2020 as the top Fintech company of the country.

Full report by FINDEXABLE

ROCKIT