June 4, 2016
Alibaba Group Holding Stock Analysis
Alibaba Group Holding stock price started to retrace in October 2015 after a ABCD like down, the solid white candlestick signal a good bull run. However, the price action responded to the support turn resistance. After eight weeks, the ceiling proved to be strong to stop the price from going further up. It coincided with the China economy sentiment, the price action reacted to the global economy and started to fall. The market stop falling, stop fall through the last low. Phew! The price action started to re-bounce, however it was much weaker as compare to the last retracement. The price action formed a lower high; lower than the last high. … the price action looks ranging for the last eight months, since October 2016.
If the price action fail to breakout the yellow zone, that prove the resistance zone is working. The ceiling stop the price from travelling north.
Where will the Alibaba Stock Price goes?
There is always two sides of view, for those that misses to buy the stock at the low will want to buy and for those who bought at the high and want to cut lost will sell at this point.
Singapore’s state-owned investment firms Temasek Holdings Pte and GIC Pte, long-term Alibaba Group Holding Inc. investors, bought a combined $1 billion of stock in Alibaba, the Chinese e-commerce company.
The salesman that sold this to Temasek and GIC is a great sales guy. Wow!
You can read more from Bloomberg, http://www.bloomberg.com/, Singapore Inc. Buys $1 Billion in Alibaba, Adding to China Bets, or from The Straits Times, http://www.straitstimes.com/, GIC, Temasek buy combined US$1b in Alibaba stock in SoftBank sale.
E-commerce are here to stay, is Alibaba the right bet? Will see!
June 3, 2016 Alibaba Group Holding Weekly Chart
What will be the next stock? The AES Corp. Please check it out.
Thanks for visiting the site, you can find many other analysis and concepts on this site. Have fun!
Moses Stock Analysis and Scan
Disclaimer: All information, data and material contained, presented, or provided on amibrokeracademy.com is for educational purposes only. It is not to be construed or intended as providing trading or legal advice. Decisions you make about your trading or investment are important to you and your family, therefore should be made in consultation with a competent financial advisor or professional. We are not financial advisor and do not claim to be. Any views expressed here-in are not necessarily those held by amibrokeracademy.com. You are responsible for your trade decision and wealth being.
The site uses powerful charting software, AmiBroker charting software.