pool adsAlibaba Group Holding Limited $BABA Technical Update
The Alibaba Group Holding Limited (NASDAQ: BABA) update and the technical summary table below can help you manage risk and optimize returns. Here we provide day, swing, and longer-term trading plans for BABA, and we cover 1000 other stocks too. This is a snapshot, it was real-time when the report was published, but prices change and so do support and resistance levels. Update this report, and get unlimited real time reports here: Free Trial.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Weak | Weak | Neutral |
| P1 | 0 | 0 | 223.65 |
| P2 | 222.62 | 224.11 | 257.80 |
| P3 | 226.69 | 230.69 | 293.38 |
Support and Resistance Plot Chart for BABA
Long Term Trading Plans for BABA
May 8, 2021, 10:27 pm ET
The Technical Summary and Trading Plans for BABA help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this BABA Report.
BABA - (Long) Support Plan
The technical summary data tells us to buy BABA near 223.65 with an upside target of 257.80. This data also tells us to set a stop loss @ 223 to protect against excessive loss in case the stock begins to move against the trade. 223.65 is the first level of support below 225.31 , and by rule, any test of support is a buy signal. In this case, support 223.65 would be being tested, so a buy signal would exist.
BABA - (Short) Resistance Plan
The technical summary data is suggesting a short of BABA as it gets near 257.80 with a downside target of 223.65. We should have a stop loss in place at 258.54 though. 257.80 is the first level of resistance above 225.31, and by rule, any test of resistance is a short signal. In this case, if resistance 257.80 is being tested, so a short signal would exist.
Blue = Current Price
Red= Resistance
Green = Support
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