BABA breaks below prior session low


Alibaba Group (BABA) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
BABA ends the day on a bearish note closing near the low of the day
BABA breaks below previous session low
TQ Sentiment
Report Sentiment: 40% Bearish
Technical Forecast:
Overview

BABA finished Thursday at 196.02 losing $2.09 (-1.05%). Closing below Wednesday's low at 196.30, the share confirms its breakout through the prior session's low having traded $0.73 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for BABA
Volatility

Thursday's trading range was $2.86 (1.46%), that's below last trading month's daily average range of $4.57. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being above average.

Support/Resistance

Prices are trading close to a key support level at 193.38.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Buying could accelerate should prices move above the close-by swing high at 199.75 where further buy stops might get triggered. Selling could speed up should prices move below the nearby swing low at 193.86 where further sell stops might get activated. Trading close to March's high at 201.50 we could see further upside momentum if potential buy stops at the level get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Alibaba Group
ConditionForecastDirectionWinAvgWorstBestEvents
Close to Swing Low TQ Pro Members Only
Low close to previous two Lows TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Low close to previous low TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Latest Report:

BABA stuck within tight trading range

Jul 16, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Alibaba Group traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Stocks Top Movers

ETHUSD 477.0528.70 6.40%
BTCUSD 6,712.49348.90 5.48%
NKY 22,697.36100.01 0.44%
NATGAS 2.7670.009 0.33%
EURUSD 1.17110.0025 0.21%
GBPUSD 1.3234-0.0002 -0.02%
USDJPY 112.29-0.07 -0.06%
GOLD 1,241.0-0.8 -0.06%
SPX 2,798.43-2.88 -0.10%
DXY 94.275-0.225 -0.24%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV96.25 -0.38
-0.39%
ACN 10 day candlestick chart for ACN167.64 -0.45
-0.27%
ADBE 10 day candlestick chart for ADBE254.68 -3.91
-1.51%
AAP 10 day candlestick chart for AAP139.67 0.33
0.24%
AES 10 day candlestick chart for AES13.13 -0.05
-0.38%
AET 10 day candlestick chart for AET191.45 -0.44
-0.23%
AFL 10 day candlestick chart for AFL42.78 0.18
0.42%
AMG 10 day candlestick chart for AMG148.62 0.14
0.09%
A 10 day candlestick chart for A62.72 -0.66
-1.04%
ABT 10 day candlestick chart for ABT61.78 -1.28
-2.03%