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The Alibaba Group, founded by Jack Ma, is a multinational tech corporation. It is a dominant player in e-commerce, cloud computing, fintech, online entertainment, and internet services. All of these sectors are high-growth areas. Therefore, BABA has excellent long-term prospects and the projected long-term direction is upwards.
The company listed on the NYSE in 2014. Its monthly chart shows a consistent up-trend since listing. The stock has pulled back about 15% from highs touched in January 2020. The price seems to have found resistance around the 168 level, as indicated by the dashed red line and a double-bottom pattern.
More recently, BABA has moved up from 168 to 196. There is also a clear upward movement from the lower trend line in yellow, which is the area of value in this case. The stop loss can be placed below the bottom trend line and the resistance line. Position taken at $196.37. Stop loss 20.88% below at $155.36.
Short to medium term investors profit point at $244, represents 24% profit.
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.
If you are interested in purchasing the above stock please click here to view some trading platforms.
Information is provided ‘as-is’ and solely for informational purposes. Data provided mostly by way of video and images are of actions that have already taken place. and are not for trading purposes or advice.
Stock Prices End-of-Day. Information is provided solely for informational purposes, not for trading purposes or advice, and is delayed.
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