Alibaba Stock Forecast

Alibaba stock price up 2.12% on Friday
(Updated on May 17, 2024)

BABA Signals & Forecast

Mostly positive signals in the chart today. The Alibaba 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 $82.83 and $75.74. 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 11.36%. 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 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 stock

Alibaba finds support from accumulated volume at $86.70 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 $3.63 between high and low, or 4.18%. For the last week, the stock has had daily average volatility of 3.91%.

Our recommended stop-loss: $85.78 (-3.12%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (BABA) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Alibaba Group Holding Limited to open at $88.61, and during the day (based on 14 day Average True Range), to move between $85.85 and $91.23, which gives a possible trading interval of +/-$2.69 (+/-3.04%) 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 6.08% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $86.70, some $1.84 (2.08%) from the current price of $88.54, our system finds the risk reward attractive.

Is Alibaba Group Holding Limited stock A Buy?

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Alibaba stock to perform well in the short-term period.

Current score: 6.008 Strong Buy Candidate Unchanged

Predicted Opening Price for Alibaba Group Holding Limited of Monday, May 20, 2024

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