Tag: BABA

CFD Trading – Buy Alibaba Group Holding (BABA.NYS) @ $261.00. Stop @ $251.00 and Target @ $281.00.

Nicholas
Outlook
Price was supported for a second time at the low of $252.30 and there was a divergence warning from MACD as well. An Abandoned Baby candlestick price pattern was also formed with in the last 3 days of trading activity. This is a bullish reversal candlestick pattern. We think price is likely to test the upper edge of the cloud as well as a previous high on 24 November at $280.30

Strategy                  
$261.00              Buy
$281.00              Price Target
$251.00              Risk Management Stop
3 weeks              Trade Duration

CFD Trading – Buy Alibaba Group Holding Limited (BABA.NYS) @ $271.00. Stop at $263.20 and Target at $298.30

Nicholas

Alibaba Group Holding Limited Stock Code BABA.NYS

Outlook
Price reached a high of $299 on 2 September 2020 and in a 3-day pullback, has reached the gap zone from $271.62 to $265.80. Last Friday’s low of $267.39 could be the end of a short correction and price could be about to test the previous high of $299 again. Conversion and Base lines had a bullish crossover, confirming the bullish trend. Lagging Span is above price of 26 days ago and above the cloud. Lagging Span confirms the bullish trend in place. MACD is bullish with both of its lines above the zero line as well. If price can hold above the gap zone lower limit of $265.80, price is likely to test the previous high of $299 again.

Strategy
$271.00              Buy
$298.30              Price Target
$263.20              Risk Management Stop
3 weeks Trade Duration

CFD Trading Buy Alibaba @ $248.00. Stop at $239.20 and Target at $283.30

Nicholas

Alibaba Group Holding Limited Stock Code BABA.NYS

Outlook
Price broke above the cloud on 29 May 2020 and has been above the cloud since that breakout. Following that breakout, price has risen to a high of $268.00. Price went into a correction after this high but has managed to stay above the cloud and above the Base line during the consolidation process. Conversion and Base lines had a bullish crossover on 9 July to confirm the bullish trend. Lagging Span is above price of 26 days ago and above the cloud. Lagging Span confirms the bullish trend in place. MACD is bullish with both of its lines above the zero line as well. Price is currently consolidating within a triangle pattern and a breakout of this triangle pattern is likely to send price higher to $283.20.

Strategy
$248.00              Buy
$283.30              Price Target
$239.20              Risk Management Stop
3 weeks Trade Duration