Alibaba Group Holding Limited (BABA)

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Stock Price History

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Our View

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.