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Alibaba's Stock Is Entering Make It Or Break It Time

Benzinga2021-04-02

Alibaba Group Holding Ltd.(NYSE:BABA) shares were trending Thursday. The stock looks to be nearing the support level and looking to test it soon. Below is a technical analysis on the chart.

Alibaba closed down 1.05% at $224.36.

Alibaba Daily Chart Analysis:Alibaba looks to be forming what technical traders may call a “descending triangle” pattern.

Connecting the highs of the chart together with a line shows that the highs are getting lower observable by the negative slope of the line.

These highs are condensing the price between a flat bottom near $220. The stock has found support near the $220 level multiple times in the past and may again in the future.

The stock is trading below the 200-day moving average (blue), possibly indicating sentiment in the stock is bearish. This indicator may hold as a resistance level sometime in the future.

What’s Next:Bullish technical traders would like to see the stock bounce near the $220 level. Following a bounce, bullish traders would like to see the stock cross above the line that connects the highs.

If the stock were to be able to cross above the line that connects the highs, it may indicate the trend is changing from bearish to bullish.

Bearish traders would like to continue to see the stock hover near the $220 area. If the stock is able to fall below this level and have a period of consolidation, it may see a stronger push downwards in the future.

The stock pushing below the $220 support level may confirm the bearish descending triangle pattern. Although the term bearish is in the name of the pattern, it may not act accordingly.

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评论91

  • qianyi
    ·2021-07-28
    Sold alibaba will down lower somemore
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  • Aaden
    ·2021-07-22
    All in BABA 
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  • MCYR
    ·2021-04-06
    don't get it
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  • Happytrooper
    ·2021-04-05
    Kind of forgotten after the ANT withdrawal 
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  • DK9229
    ·2021-04-05
    Hmmm
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  • Kaka85
    ·2021-04-05
    Waiting for further 
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  • SSVC
    ·2021-04-05
    Wait and see.., Appreciate your comments and response thanks 
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    收起
    • Angsana
      yoz
      2021-04-05
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    • deeplearning
      done, please like and comment~
      2021-04-05
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    • SafetyFirst
      ok
      2021-04-05
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    查看更多 2 条评论
  • Badanu
    ·2021-04-05
    Long term hold?
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  • JeremyO
    ·2021-04-05
    Ok
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    收起
    • JeremyO
      ok
      2021-04-05
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  • MayTan
    ·2021-04-05
    Have faith in the stock to go up further.
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    • ngchris
      Yes, it will.
      2021-04-05
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  • Missys
    ·2021-04-05
    Hopefully it will be alright
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  • rachhy
    ·2021-04-05
    Alibabas not moving much😓
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  • Check7mate7
    ·2021-04-05
    Up
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    • Huathk
      Gd
      2021-07-08
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  • Jj1985
    ·2021-04-05
    Let's hope is make it. 
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  • jhhh
    ·2021-04-04
    Lets hope
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  • HPT
    ·2021-04-04
    Good
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  • Huradelia
    ·2021-04-04
    I think alibaba will go up to hit all timehighs 
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  • HMHu
    ·2021-04-04
    Where is Jack Ma?
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    • Badanu
      hmm...
      2021-04-05
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  • Boo2bear
    ·2021-04-04
    At long term support, failure will be huge downside. Comment and like pls. 
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    • beesleuth
      Sure, can help me too?
      2021-04-04
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