Alibaba Group Holding Limited Stock Forecast
On Thursday, Alibaba Group Holding Limited stock price gained an impressive 5.64%
(Updated on May 16, 2024)
The Alibaba Group Holding Limited stock price gained 5.64% on the last trading day (Thursday, 16th May 2024), rising from 74.50€ to 78.70€. During the last trading day the stock fluctuated 7.10% from a day low at 74.60€ to a day high of 79.90€. The price has risen in 7 of the last 10 days and is up by 6.5% 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, 22 thousand more shares were traded than the day before. In total, 76 thousand shares were bought and sold for approximately 6.00€ million.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at 78.77€ will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 7.37% during the next 3 months and, with a 90% probability hold a price between 75.67€ and 84.57€ at the end of this 3-month period.
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AHLA.F Signals & Forecast
Mostly positive signals in the chart today. The Alibaba Group Holding Limited 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 75.17€ and 69.80€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 7.66%. 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 Group Holding Limited stock
Alibaba Group Holding Limited finds support from accumulated volume at 78.50€ 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 5.30€ between high and low, or 7.10%. For the last week, the stock has had daily average volatility of 4.68%.
Our recommended stop-loss: 75.82€ (-3.66%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (AHLA.F) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Alibaba Group Holding Limited to open at 77.73€, and during the day (based on 14 day Average True Range), to move between 76.33€ and 81.07€, which gives a possible trading interval of +/-2.37€ (+/-3.01%) up or down from last closing price. If Alibaba Group Holding Limited takes out the full calculated possible swing range there will be an estimated 6.02% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ 78.50€, some 0.200€ (0.25%) from the current price of 78.70€, our system finds the risk reward attractive.
Is Alibaba Group Holding Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Alibaba Group Holding Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.367 Buy Candidate Upgraded
Predicted Opening Price for Alibaba Group Holding Limited of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| 77.73€ ( 1.23%) | 78.70€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AHLA.F
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 83.03 | 5.51 % | |
| R2 | 81.01 | 2.93 % | ||
| R1 | 79.76 | 1.34 % | ||
| Current price: | 78.70 | |||
| Support | S1 | 75.71 | -3.80 % | |
| S2 | 74.46 | -5.39 % | ||
| S3 | 72.43 | -7.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 78.70 | |||
| Support | S1 | 78.50 | -0.254% | |
| S2 | 73.10 | -7.12% | ||
| S3 | 69.00 | -12.33% |
AHLA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 13, 2024 | Jun 13, 2024 | Jul 12, 2024 | 1.52€ | 1.90% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | 0€ | 0% |
FAQ
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