Alibaba Group Holding Limited Stock Forecast
Alibaba Group Holding Limited stock price ended at 69.50€ on Monday, after gaining 0.87%.
(Updated on Jun 17, 2024)
The Alibaba Group Holding Limited stock price gained 0.87% on the last trading day (Monday, 17th Jun 2024), rising from 68.90€ to 69.50€. During the last trading day the stock fluctuated 1.45% from a day low at 69.00€ to a day high of 70.00€. The price has been going up and down for this period, and there has been a -2.8% loss for the last 2 weeks. Volume fell on the last day by -17 thousand shares and in total, 16 thousand shares were bought and sold for approximately 1.10€ million. 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 lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 69.05€ is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 11.84% during the next 3 months and, with a 90% probability hold a price between 77.22€ and 95.12€ at the end of this 3-month period.
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AHLA.F Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 0.87%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Alibaba Group Holding Limited 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 71.63€ and 74.07€. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Alibaba Group Holding Limited stock
Alibaba Group Holding Limited finds support from accumulated volume at 69.00€ 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved 1.00€ between high and low, or 1.45%. For the last week the stock has had daily average volatility of 1.48%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AHLA.F) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Alibaba Group Holding Limited to open at 69.50€, and during the day (based on 14 day Average True Range), to move between 67.70€ and 71.30€, which gives a possible trading interval of +/-1.80€ (+/-2.58%) 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 5.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 69.00€ (0.72%) than the resistance at 72.30€ (4.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Alibaba Group Holding Limited stock A Buy?
The Alibaba Group Holding Limited stock holds several negative signals and despite the positive trend, we believe Alibaba Group Holding Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.349 Sell Candidate Unchanged
Predicted Opening Price for Alibaba Group Holding Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| 69.50€ ( 0%) | 69.50€ |
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 | |
|---|---|---|
| R3 | 70.50 | 1.44% |
| R2 | 70.12 | 0.89% |
| R1 | 69.88 | 0.550% |
| Price | 69.50 | |
| S1 | 69.12 | -0.550% |
| S2 | 68.88 | -0.89% |
| S3 | 68.50 | -1.44% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 74.70 | 7.48% |
| R2 | 73.10 | 5.18% |
| R1 | 72.30 | 4.03% |
| Price | 69.50 | |
| S1 | 69.00 | -0.719% |
| S2 | 67.80 | -2.45% |
| S3 | 66.10 | -4.89% |
AHLA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 13, 2024 | Jun 13, 2024 | Jul 12, 2024 | 1.52€ | 2.18% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Jan 18, 2024 | 0.90€ | 1.42% |
FAQ
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