ALIBABA GRP HLD/SH SH Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
ALIBABA GRP HLD/SH SH stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on May 02, 2024)
The ALIBABA GRP HLD/SH SH stock price gained 2.35% on the last trading day (Thursday, 2nd May 2024), rising from HK$74.35 to HK$76.10. During the last trading day the stock fluctuated 4.64% from a day low at HK$73.35 to a day high of HK$76.75. The price has risen in 6 of the last 10 days and is up by 11.91% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 21 million more shares were traded than the day before. In total, 68 million shares were bought and sold for approximately HK$5.20 billion.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is HK$74.47, a level that may pose a second chance to hit a runner. According to fan-theory HK$82.47 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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9988.HK Signals & Forecast
Mostly positive signals in the chart today. The ALIBABA GRP HLD/SH SH stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$73.63 and HK$71.48. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 14.09%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for ALIBABA GRP HLD/SH SH stock
ALIBABA GRP HLD/SH SH finds support from accumulated volume at HK$74.85 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 HK$3.40 between high and low, or 4.64%. For the last week, the stock has had daily average volatility of 3.13%.
Our recommended stop-loss: HK$73.13 (-3.90%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (9988.HK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect ALIBABA GRP HLD/SH SH to open at HK$75.40, and during the day (based on 14 day Average True Range), to move between HK$73.87 and HK$78.33, which gives a possible trading interval of +/-HK$2.23 (+/-2.93%) 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 5.87% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$74.85, some HK$1.25 (1.64%) from the current price of HK$76.10, our system finds the risk reward attractive.
Is ALIBABA GRP HLD/SH SH stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.720 Buy Candidate Upgraded
Predicted Opening Price for ALIBABA GRP HLD/SH SH of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| HK$75.40 ( 0.92%) | HK$76.10 |
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 | 78.80 | 3.55 % | |
| R2 | 77.50 | 1.84 % | ||
| R1 | 76.70 | 0.787 % | ||
| Current price: | 76.10 | |||
| Support | S1 | 74.10 | -2.63 % | |
| S2 | 73.30 | -3.68 % | ||
| S3 | 72.00 | -5.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 76.10 | |||
| Support | S1 | 74.85 | -1.64% | |
| S2 | 71.00 | -6.70% | ||
| S3 | 70.30 | -7.62% |
9988 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | HK$0 | 0% |
FAQ
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