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Alibaba

Navigating Alibaba's Challenges: Is Now the Time to Buy? The recent performance of Alibaba Group ADR (BABA.N) has raised eyebrows among investors, as the stock is currently in a falling trend channel in the medium to long term. Despite the negative sentiments and challenges faced by the Chinese e-commerce giant, there are compelling reasons for buyers to consider the stock. We will delve into the key factors that may make Alibaba an attractive investment opportunity. 1. Technical Analysis and Potential Reversal: The stock is currently moving within a rectangle formation, with support at $70.69 and resistance at $101. A decisive break through either of these levels could indicate a new direction for the stock. The recent 3.2% gain in December is a positive sign, and a break upwards through $80.00 could serve as a bullish signal, potentially reversing the falling trend. 2. December Gains Amidst Longest Streak of Monthly Losses: Despite enduring its longest streak of monthly losses since 2015, Alibaba's NYSE-listed shares have managed to gain 3.2% this month. This resilience in the face of previous setbacks suggests that the stock may be finding support and could be poised for a rebound. 3. Strategic Leadership Changes: Alibaba recently announced that its chief executive would directly oversee its domestic e-commerce arm, indicating a strategic shift in leadership. With a renewed focus on managing non-core assets, this move could pave the way for a more streamlined and efficient operation, potentially boosting investor confidence. 4. Legal Developments and Market Dynamics: It's worth noting that Alibaba recently faced a legal setback, with rival JD.com winning a lawsuit against the company for monopolistic practices. While this may have contributed to short-term market uncertainties, it's essential to consider the broader market dynamics and the potential for Alibaba to adapt and thrive in a changing regulatory environment. In conclusion, Alibaba's current challenges present a unique buying opportunity for investors who can see beyond short-term fluctuations. The technical indicators, December gains, strategic leadership changes, and the contrarian perspective make a compelling case for considering Alibaba as a potential addition to a diversified portfolio. As with any investment, thorough research and a long-term perspective are crucial for making informed decisions in the dynamic landscape of the stock market.
NYSE:BABALong
by DEXWireNews
Tech Giant Alibaba Unveils New AI Video ToolAlibaba says its I2VGen-XL model can handle “visualization, sampling, training, inference, join training using images and videos, acceleration, and more. Alibaba Cloud—subsidiary of Chinese conglomerate Alibaba Group and one of the world's largest cloud computing companies—has unveiled its I2VGen-XL AI tool. It’s an advanced text-to-video system that's intended to compete against top-of-the-line models like the ones released by Pika Labs or Stability AI. The company announced the release of the model’s weights today after publishing the model’s research paper last month. I2VGen-XL is engineered using cascaded diffusion models, the paper explains, a sophisticated AI technique that ensures the generated videos are not only visually impressive but also contextually coherent and semantically accurate. It operates on a two-stage process: the base stage focuses on maintaining coherence with the input text and images, and the refinement stage enhances the details and resolution of the video, achieving up to 1280x720 pixels. This technique may sound similar to those used to generate images with SDXL. Unlike SD 1.5 and SD 2.1 which relied on a single model, Stability AI developed two different models, a base and a refiner, which should be combined to generate the best quality images possible. Alibaba Cloud says the model's training utilized an extensive dataset of around 35 million text-to-video pairs and a staggering 6 billion text-to-image pairs. Such a vast dataset ensures the model's versatility and accuracy across various scenarios and subjects. A new model amidst an AI arms race This release comes as the global tech landscape is witnessing heightened tensions and competition, particularly between the US and China. Amidst a backdrop of trade restrictions and a push for technological self-reliance, Alibaba's move is both timely and strategically significant for the country. Alibaba's latest innovation is not an isolated development but part of a longer narrative of technological rivalry. With the US imposing restrictions on chip exports and China responding with its countermeasures, the race for AI supremacy has accelerated. This environment has spurred advancements in indigenous technologies, with both nations vying for a leading position in AI, semiconductor technology, and 5G innovation. When contrasted with other notable advancements in the field, such as Pika Labs' model and Stable Video Diffusion, I2VGen-XL distinguishes itself through its unique approach and high semantic accuracy. A demo with several examples of using HiGen (a diffusion model) with I2VGen-XL shows a major improvement in temporal and frame consistency when compared to the use of HiGen alone. Alibaba's I2VGen-XL model represents a significant milestone in the AI landscape because it provides an alternative to models that are either banned for Chinese users or could be restricted in the future by the US or the Chinese government. Alibaba’s emerging tech plays Alibaba goes beyond just e-commerce. It has been a significant player in emerging technologies for a while, consistently pushing new developments in the realms of AI, the metaverse, software, and even digital currencies. In AI-driven animation, besides sI2VGen-XL, Alibaba's "Animate Anyone" model stands out. This tool transforms static images into dynamic animations, employing a novel framework called ReferenceNet. Integrating sophisticated diffusion models achieves temporally stable and visually consistent videos. Alibaba Cloud also partnered with Avalanche to launch its Cloudverse platform. This technology offers businesses a seamless pathway to create and maintain their digital universes. The strategic alliance with Avalanche and Metaverse Universal Assets DAO's involvement in middleware solutions highlights Alibaba's collaborative approach and its dedication to harnessing Web3 technologies.
NYSE:BABALong
by DEXWireNews
$BABA Double Bottom Weekly Chart in Sight--- ### Stock Analysis Update: Alibaba ( NYSE:BABA ) Approaching Double Bottom on Weekly Chart #### Potential Double Bottom Formation for Alibaba Investors tracking Alibaba Group Holding Limited ( NYSE:BABA ) should take note of a significant pattern forming on its weekly chart. The stock is approaching what appears to be a double bottom, a key technical pattern often associated with potential trend reversals. This pattern is identified by two distinct low points at a similar price level, separated by a moderate peak. #### Key Level to Watch: $77.77 The critical level that defines this potential double bottom for Alibaba's stock is $77.77. This price point is where the two lows of the pattern are formed, serving as a pivotal level for future price action. I have set an alert for this price, closely monitoring the stock's movement as it approaches this key level. #### Strategy Going Forward: Starter Position Upon reaching or nearing the $77.77 level, the plan is to initiate a starter position in $BABA. This approach involves entering a smaller, initial investment, which allows for capitalizing on the potential upward reversal indicated by the double bottom pattern, while also managing risk. #### What a Double Bottom Could Mean for NYSE:BABA If Alibaba's stock indeed forms a double bottom at $77.77, it could indicate a bullish shift in investor sentiment. This pattern is often seen as a signal that the stock has found a strong support level and may be poised for a rebound. However, it’s crucial to await confirmation, typically seen as a significant move upwards from the $77.77 level, before considering it a firm bullish signal. #### Investor Caution and Monitoring As with all technical patterns, it’s important for investors to combine this observation with other market analyses and indicators. Setting a starter position allows for participation in potential upside while maintaining a cautious approach, ready to adjust based on further market data and the stock’s performance.
NYSE:BABALong
by AlgoTradeAlert
Can Alibaba double from here?The Chinese MNC had displayed its last big impulse move in Oct.2022.In this move(labeled wave 1) the Chinese giant gained 106% between Oct.2022 till Jan.2023. Between Jan.2023 to May 2023 the stock got into wave 2 correction and corrected 61.8% of the wave 1 rally(the correction was an Elliot wave zigzag). The stock displayed a bit of strength again on the completion of the Zigzag and managed to get a leading diagonal as the first leg of the bigger Third wave that is now anticipated of the stock. The stock currently is at 80%retracement of the leading diagonal and 77.77$ level is a crucial support for the stock. The current corrective phase seems to lack one tiny leg to the downside(wave c of Z) and as soon as that is achieved the stock should only look North then from here all the way till 160$ mark. Note*- The chart is based on personal observations/opinions. Kindly do your own research before taking up any trade.
NYSE:BABALong
by neeraj_2_sharma
10
Alibaba Group Holding (NYSE:BABA) Has More To Do To GrowIn a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. Having said that, from a first glance at Alibaba Group Holding (NYSE:BABA) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look. Return On Capital Employed (ROCE): What Is It? Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) 0.09 = CN¥126b ÷ (CN¥1.8t - CN¥380b) (Based on the trailing twelve months to June 2023). Thus, Alibaba Group Holding has an ROCE of 9.0%. On its own, that's a low figure but it's around the 10% average generated by the Multiline Retail industry. What The Trend Of ROCE Can Tell Us There are better returns on capital out there than what we're seeing at Alibaba Group Holding. Over the past five years, ROCE has remained relatively flat at around 9.0% and the business has deployed 121% more capital into its operations. This poor ROCE doesn't inspire confidence right now, and with the increase in capital employed, it's evident that the business isn't deploying the funds into high return investments. Long story short, while Alibaba Group Holding has been reinvesting its capital, the returns that it's generating haven't increased. Since the stock has declined 44% over the last five years, investors may not be too optimistic on this trend improving either. In any case, the stock doesn't have these traits of a multi-bagger discussed above, so if that's what you're looking for, we think you'd have more luck elsewhere.
NYSE:BABALong
by DEXWireNews
ALIBABA: 1W Bullish Cross leading it to 220. Cycle repeating.Alibaba is neutral on the 1W timeframe (RSI = 46.095, MACD = -1.100, ADX = 22.119) but with the RSI on HL since March 2022. Having crossed already over the 1W MA50 and being on the verge of the first 1W MA50-100 Bullish Cross since April 2019 (and the third ever), this bullish divergence is exactly what has historically formed before BABA's two prior bottoms. The 1W MA50-100 Bullish Cross has been the buy entry signal. It is evident that all bottom patterns are identical in the form of a Triangle. The target from top-to-bottom has been the 1.786 Fibonacci extension. That is our long term target (TP = 220.00). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NYSE:BABALong
by InvestingScope
7
Alibaba Express E-Commerce Resurgence Sparks Bullish EnthusiasmAlibaba Express Surging in Bullish Glory Alibaba Express (BABA) is on a remarkable bullish run as e-commerce roars back to life. The stock's resurgence can be attributed to robust earnings, strong sales growth, and expanded international reach. Technical indicators like the Relative Strength Index (RSI) and Moving Averages are firmly in the bullish zone, affirming investor optimism. With the global shift toward online shopping and Alibaba's strategic positioning, BABA is well-poised for further gains, igniting enthusiasm among investors tracking this bullish trend.
NYSE:BABALong
by DEXWireNews
1
Unveiling Alibaba's Secrets: A Technical Analysis of Its Future NYSE:BABA Based on the weekly ElliotWaves analysis , BABA is currently in a corrective wave structure. The corrective wave structure is a complex wave pattern that can take many different forms. However, the most common corrective wave structure is a three-wave ABC pattern. BABA appears to be in the wave B of the corrective wave structure. Wave B is a retracement of wave A. We can expect to see BABA continue to move higher in the coming weeks . However, it is important to note that wave B retracements can be sharp and volatile, so we may have a final push on the downside, before the long-term uptrend begins. Therefore, it is important to be cautious when trading BABA during the wave B retracement and a stronger price confirmation is needed. BABA's RSI is currently at approx. 50, which is neutral territory. This suggests that BABA is neither overbought nor oversold. However, the RSI is trending higher, which suggests that BABA is likely to continue to move higher in the coming weeks. BABA's MACD is currently above its signal line, which is a bullish signal. This suggests that BABA is likely to continue to move higher in the coming weeks. Potential Direction of BABA on a Weekly Timeframe Based on the ElliotWaves, RSI, MACD, and other technical tactics, BABA is likely to continue to move higher in the coming weeks. However, it is important to note that the market is unpredictable and there is always the possibility of a trend reversal. Therefore, it is important to be cautious when trading BABA and to use a stop-loss order to protect your profits. I hope this post is helpful. This analysis represents is based on the information at the date it is posted. This analysis does not represent professional and/or financial advice. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content found on this profile before making any decisions based on such information. Any feedback is encouraged and appreciated. Thank you and have a nice day!
NYSE:BABA
by YExplore
Alibaba (BABA) -> This After -80%My name is Philip, I am a German swing-trader with 4+ years of trading experience and I only trade stocks , crypto , options and indices 🖥️ I only focus on the higher timeframes because this allows me to massively capitalize on the major market swings and cycles without getting caught up in the short term noise. This is how you build real long term wealth! In today's anaylsis I want to take a look at the bigger picture on Alibaba. For me personally it was quite impressive that Alibaba stock dropped more than 80% after the massive 400% increase from 2015 to 2020. Recently Alibaba stock retested and already rejected the previous all time low of 2015 and I think that it is just a matter of time until we will see a monthly bullish break of structure. - - - - - - - - - - - - - - - - - - - - I know that this is a quite simple trading approach but over the past 4 years I've realized that simplicity and consistency are much more important than any trading strategy. Keep the long term vision🫡
NYSE:BABALong
by basictradingtv
44
Alibaba's Phoenix: Rising from the Ashes of AdversityAlibaba's Phoenix: Rising from the Ashes of Adversity Alibaba, the e-commerce giant that once soared high in the Chinese business landscape, has recently found itself navigating turbulent waters. The fiscal year ending on March 31, 2023, marked a low point in its financial journey, with revenue growth hitting an all-time low. This downturn sent Alibaba's stock price tumbling to levels not seen in recent memory. But amid the clouds of uncertainty, rays of hope have begun to shine through in the form of promising quarterly results. The question on everyone's mind now is whether the worst is behind Alibaba and whether it's an opportune time to consider investing in its stock. Alibaba's story serves as a classic tale of a fallen angel. Following its highly anticipated IPO in 2014, the company consistently delivered annual revenue growth rates exceeding 30%. However, the tides turned dramatically over the past couple of years. Alibaba faced a barrage of challenges, including regulatory crackdowns by the Chinese government, a pandemic-induced economic slowdown, and the relentless competition from rising platforms like Pinduoduo and Douying. The fiscal year that ended in March 2023 bore the brunt of these challenges, with Alibaba's revenue growing by a mere 2%. Even more concerning was the 1% decline in revenue reported by the company's flagship Chinese e-commerce business, traditionally the primary revenue and profit driver. Such lackluster performance was seen as unacceptable for a company heavily reliant on e-commerce for its financial health. Thankfully, there are promising signs that Alibaba's performance in fiscal 2023 may have been an aberration. In the most recent quarterly results ending in June 2023, the company witnessed a substantial 14% year-over-year growth in groupwide revenue, accompanied by a remarkable 70% surge in operating income. Notably, all major business divisions, except the cloud division, posted double-digit revenue growth. Even the flagship Chinese e-commerce division managed to achieve a 12% increase in revenue. While it's early to declare victory, this recent performance suggests that Alibaba's strategic restructuring, involving the division of its empire into six major units, is yielding positive results. All six divisions, in addition to reporting robust revenue growth, have demonstrated significant improvements in profitability. Especially noteworthy are the turnarounds in previously loss-making businesses like Cainiao Logistic and the Digital Media and Entertainment Group in the latest quarter. However, it's vital to exercise caution and not base all optimism solely on one quarter of promising results. Alibaba's strategic restructuring plan lays a clear path towards a complete recovery, but transformations of this scale take time. It's likely to be several quarters, if not years, before the newly appointed management team steers Alibaba back onto a high-growth trajectory. Eddie Wu, the recently instated Chairman and CEO, is spearheading a strategic shift with a focus on user satisfaction and harnessing artificial intelligence to drive the business forward. Simultaneously, Daniel Zhang stepped down from his role as chairman and CEO of Alibaba's cloud division. Wu faces the challenge of delivering results in his dual roles as acting chairman and new CEO of the cloud division. For potential investors, patience is the name of the game. Alibaba's stock is currently trading around $86, only 26% higher than its IPO price in 2014. This, despite the company's revenue surging 15-fold during the same period, from $8.4 billion in 2014 to an impressive $126 billion in 2023. The recent challenges Alibaba has faced have understandably left investors pessimistic about its future prospects. The stock is trading at a modest valuation, with a price-to-sales (P/S) ratio of 1.8, significantly below its five-year average of 5.5. In comparison, Pinduoduo boasts a P/S ratio of 6.2. In light of these factors, Alibaba's valuation seems relatively attractive, especially for a leading technology company that still controls some of China's premier businesses. So, is Alibaba's stock worth adding to your portfolio? The answer hinges on several factors. On one hand, early indicators suggest Alibaba is on the path to recovery, evident in its respectable revenue growth in the latest quarter. Additionally, the stock's appealing valuation is an enticing proposition. However, it's essential to acknowledge that regaining its previous growth momentum will take time. Investing in Alibaba's stock comes with the inherent risks associated with Chinese companies, including political uncertainties. Only those investors possessing the temperament to manage these additional risks and the patience to wait for the company to execute its latest strategies should consider buying the stock. Others may be best advised to remain on the sidelines. As Alibaba rises from the ashes of adversity, the path ahead is uncertain, but the potential for resurgence is undeniable. It's a story worth watching closely, as it unfolds in the dynamic landscape of Chinese business.
NYSE:BABA
by FOREXN1
10
BABA is a perfect buyStock is cheap. At $88 it's waaay below its value. Asset Value minus debt divided by a number of shares put BABA somewhere in the $95-110 range. Which means that at $88 it's basically free money. The only con is VIE structure (Google it yourself) - I have decided to put my trust in VIE structure. EV/EBITDA is 1.98 which is amazingly low for this type of company. For comparison, Amazon EV/EBITDA is 20.5 at the moment. I have concluded that risk of VIE structure cancles out the EV/EBITDA discrepancy more than enough. There is a very high chance that BABA is cheap enough to cancel out every other investment risk. Do your own research and get to your own conclusions. These are just bullet points and for a small investor this should be a great LONG TERM investment. Don't expect quick profits, even though there is a high chance of mid to short-term profits with this stock.
NYSE:BABALong
by josip
BABA, Moving In Major Channel, Potential To Sustain Further!Hello Traders Investors And Community, welcome to this analysis about the current situation within BABA a stock which I detected in my observation and at the moment providing interesting and worthful signals which can prove profitable to keep in the schedule. As one of the major online retail traders beside amazon, it is a big profiteer of the current corona-crisis as the digital economy experiences an overall boom-phase and more and more people buying things online because of the corona-restrictions and beside it is more convenient as to go in a physical shop. These factors can show positive but this is the fundamental side, on the technical side we have also some meaningful indications right now, therefore we are looking at the locally 4-hour timeframe. As you can see in my chart BABA is moving in a major rising uptrend channel where the price confirmed the 300-EMA which you can see marked in blue in my chart, overall we have some good support at the moment in that level which can provide a basis for further increase minimum on the short scale basis. What is adding to this scenario is that BABA has some gaps higher within the structure which looking for a gap-fill with liquidity providing volume at this price-range. Adding the exceptional support-cluster and the gap-fill-potential we currently have together we have a decent high probability to follow through with some upward-moving price-action similar as you can see it marked in my chart. After the gap got filled we need to see and examine how the volatility was within the gap-fill, when we saw some good volatility also BABA has the potential to increase further when it confirms the proper support in the structure when this happens and we can stabilize here BABA will firstly test the short-term-resistance which you can see marked in my chart at the 220 level, this will be a major test because it is still important resistance but when BABA succeeds and maybe manages to hold this level there will be the test of the next higher resistance at 230 remainings. Remember that we need to see the proper confirmation before we can look for these levels as targets, firstly it is highly possible that we will fill the gap before we can consider the other targets as reasonable. In the bigger picture, BABA is moving in an overall upward consolidation range here which can be bullish when we hold the range and gain support further. The fact that BABA is a major online retail trader gives a more bullish edge on the fundamental side of things which can be an indication for price increase, although BABA is not that big like amazon it is profiting from the crisis which needs to keep in mind. This theory is playing together with the technical side therefore it will be interesting how BABA develops further. On the reverse side it is important to hold the support otherwise when we fall below the rising channel it can provide bearish pressure which will drag the stock down, in this case, a good exit scenario as most often is the best decision. Thanks for watching everybody, support for more market insight and all the best! Information provided is only educational and should not be used to take action in the markets.
NYSE:BABA
by VincePrince
13
SasanSeifi 💁‍♂️BABA 👉1D Hey there! Let's take a look at what's happening on the daily chart. After some minor fluctuations between the $80 and $90 price ranges, things got exciting! The price broke through the $90 resistance level and soared all the way up to $102. Then, after a small correction and a pullback to the $90 resistance level, it's now trading around $100. So, what can we expect next? Well, if the $90 price range holds up, we might see the price making its way up to the $108 and $115 supply zones. The possible trend is pretty clear. But, keep your eyes peeled! If the price dips below the support level, we could be in for some more corrections. Just keep these scenarios in mind as you analyze the market. Remember, things can always change unexpectedly, so stay flexible in your trading approach.❗ Wishing you loads of success in your trading adventures, my friend!✌ ❎ (DYOR)...⚠️⚜️ Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help! And if you found my analysis helpful, I would appreciate it if you could show your support by liking and commenting. Thank you!🙌
NYSE:BABA
by SasanSeifi
2
Alibaba's Evolution: A Struggle for Restoration and Renewed...Alibaba's Evolution: A Struggle for Restoration and Renewed Confidence Once hailed as a beacon of promise tied to China's expansive growth prospects, Alibaba finds itself navigating a complex narrative. The owner of revered e-commerce platforms Taobao and Tmall, as well as the behemoth Alibaba Cloud, the company has weathered a transformation from Wall Street's darling to a thorny challenge for investors in recent years. A series of setbacks, including the Ant Group's IPO cancellation and faltering growth, have propelled Alibaba's stock into a downward spiral, plummeting by more than 70% from its zenith at $317 per share. Responding to this predicament, Alibaba is orchestrating a significant corporate overhaul, fragmenting its structure into six distinct units. Despite these steps, further actions are necessary to course-correct the beleaguered ship. This article explores two vital domains Alibaba must address to regain investor confidence. Emerging as an e-commerce powerhouse, Alibaba's growth trajectory has expanded both vertically and horizontally, encompassing sectors like logistics, fintech, entertainment, cloud computing, and more. While the diversified business model garners applause, e-commerce remains the unequivocal core, accounting for a substantial 67% of the company's revenue in the fiscal year ending March 31, 2023. Notably, this segment contributed to the entirety of Alibaba's profits during that period, as other segments reported losses. Yet, Alibaba's foundation remains predominantly anchored in Chinese e-commerce, presenting a challenge. The flagship endeavor led by Tmall and Taobao faced a 1% revenue dip over the last fiscal year. While pandemic-related lockdowns contributed, the rise of contenders like Pinduoduo and Douyin has intensified pressure. Alibaba must undertake a transformative journey to adapt before this challenge escalates. In response, Alibaba's reorganization into six units seeks to empower each division with dedicated management, enhancing operational efficiency, market adaptability, decision-making speed, and incentive structures. This endeavor aims to resurrect the entrepreneurial spirit crucial for revitalization. Investors must grant several quarters to assess the efficacy of these newly established teams. The e-commerce segment must rekindle growth momentum, ideally surpassing industry rates. As Alibaba realigns itself, the path forward holds intrigue as it strives to recapture its competitive edge. Beyond operational excellence, capital allocation emerges as a pivotal arena requiring attention. Historically, Alibaba directed profits from its e-commerce pillar into high-growth domains like cloud computing and logistics. With autonomous subsidiaries, units now secure funding independently, easing e-commerce's burden. Alibaba's surplus cash flow beckons strategic redirection to enhance e-commerce and shareholder value. This includes judicious investment in marketing and research, amplifying competitiveness. Share repurchases and dividend policies also warrant consideration, given historically low stock valuations. Fresh ventures are plausible, but discernment is crucial. Alibaba stands poised to create shareholder value through astute capital allocation. This realm warrants vigilant investor scrutiny, given its profound impact. Once a cornerstone of China's tech landscape, Alibaba's journey has been marred by errors and external challenges that eroded investor trust. Yet, hope gleams. Alibaba's premier domains remain potent. Restoration lies in honing these for enduring value. Through corporate restructuring, the company embarks on rejuvenation. Patience is vital, awaiting the fruits of this turnaround. With renewed operations and strategic capital use, Alibaba's renaissance nears. The narrative could return to its former glory, focusing on nurturing its remarkable franchises.
NYSE:BABALong
by FOREXN1
7
ALIBABA first Golden Cross in 6 months. Buy signal.Alibaba (BABA) is completing today the first Golden Cross formation since January 23. This is a bullish medium-term pattern and along with the 1D RSI bullish trend on Higher Lows, it will most likely end with a Higher High on a 6 month basis. As you see, the price recently broke above a Channel Up pattern, so we expect an aggressive rally to the Lower Highs trend-line, similar to those rises of January 2023 and June - July 2022. Our target is 116.00, even though there is potential for a direct hit within the 1 Year Resistance Zone. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYSE:BABALong
by TradingShot
2
$BABA Inverse Head & ShoulderNYSE:BABA Inverse Head & Shoulder. The inverse head and shoulders pattern is a bullish reversal pattern that is often seen in stocks that have been in a downtrend. The pattern is characterized by three troughs, with the middle trough being lower than the other two. The neckline is the horizontal line that connects the bottoms of the two outer troughs. If the price of BABA breaks above the neckline, it would be a signal that the downtrend is over and that the stock is likely to move higher. The target price for the breakout would be the distance between the neckline and the head of the pattern. Of course, no pattern is guaranteed, and there is always the possibility that BABA could break down below the neckline instead. However, the inverse head and shoulders pattern is a bullish signal that is worth watching for.
NYSE:BABALong
by AlgoTradeAlert