Alibaba Group Stock Code BABA.NYS
Outlook
Price broke above the cloud, changing the chart outlook to bullish. Conversion and Base lines had a bullish crossover earlier, hinting at a bullish price trend. Both Conversion and Base lines have a steep slope, hinting at a strong bullish price trend. Lagging Span is above price of 26 days ago but is the cloud at the moment. MACD is bullish with both its lines above the zero line. MACD is hinting at a bullish price trend. We think price is likely to move higher to the previous price resistance at $104.89 in the next 2-3 weeks.
Strategy
$88.20 Buy
$104.85 Price Target
$79.90 Risk Management Stop
3 weeks Trade Duration
