CFD Trading – Buy Alibaba Group Holding Ltd (BABA.NYS) @$161.50. Stop @ $145.50 and Target @ $181.00.

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.


$161.50              Buy

$181.00              Price Target

$145.50              Risk Management Stop

3 weeks              Trade Duration

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