Alibaba Group Holding Ltd Stock Code BABA.NYS
Price reached a low of $138.43 on 4 October 2021 and this low was accompanied by a bullish divergence warning from the MACD indicator. This could be a hint that price has found a bottom and a possible reversal could lie ahead. However, MACD is bearish with both lines below the zero line but there was a bullish crossover hinting of a reversal. Price had a gap two days ago and has been moving higher over the past two trading days. Price, crossing over the 20EMA is another sign of a possible price reversal. We think price is likely to move higher to the support turned resistance line at $181.00 in the next 2-3 weeks.
$181.00 Price Target
$145.50 Risk Management Stop
3 weeks Trade Duration