Alibaba Stock Forecast
Green day on Thursday for Alibaba
(Updated on Apr 18, 2024)
The Alibaba stock price gained 0.0872% on the last trading day (Thursday, 18th Apr 2024), rising from $68.82 to $68.88. During the last trading day the stock fluctuated 1.20% from a day low at $68.80 to a day high of $69.63. The price has been going up and down for this period, and there has been a -4.27% loss for the last 2 weeks. Volume fell on the last day by -4 million shares and in total, 9 million shares were bought and sold for approximately $591.93 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 of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $68.79 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.03% during the next 3 months and, with a 90% probability hold a price between $67.40 and $75.38 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BABA Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 0.0872%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Alibaba 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 $71.24 and $72.75. 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).
Support, Risk & Stop-loss for Alibaba stock
Alibaba finds support from accumulated volume at $68.82 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 $0.83 (1.20%) between high and low. For the last week, the stock has had daily average volatility of 1.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BABA) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Alibaba Group Holding Limited to open at $69.10, and during the day (based on 14 day Average True Range), to move between $67.41 and $70.35, which gives a possible trading interval of +/-$1.47 (+/-2.13%) 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 4.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $68.82 (0.09%) than the resistance at $73.64 (6.91%), 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?
Alibaba holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.677 Sell Candidate Unchanged
Predicted Opening Price for Alibaba Group Holding Limited of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $69.10 ( 0.322%) | $68.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BABA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 69.93 | 1.52 % | |
| R2 | 69.61 | 1.06 % | ||
| R1 | 69.42 | 0.779 % | ||
| Current price: | 68.88 | |||
| Support | S1 | 68.79 | -0.136 % | |
| S2 | 68.59 | -0.418 % | ||
| S3 | 68.28 | -0.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 78.23 | 13.57 % | |
| R2 | 74.02 | 7.46 % | ||
| R1 | 73.64 | 6.91 % | ||
| Current price | 68.88 | |||
| Support | S1 | 68.82 | -0.0871% | |
| S2 | 68.63 | -0.363% | ||
| S3 | 0 | . |
BABA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 16, 2023 | Dec 20, 2023 | Jan 18, 2024 | $1.00 | 1.47% |
FAQ
Click here for our free guide on how to buy Alibaba Stock.
