BABA Stock: Chinese Multinational Technology Company Specializing in E-commerce, Retail, Internet and Technology
BABA stock price today is 221.87 USD with a volume of 12,998,035. At the same time, its chart fluctuates between 216.46 USD – 219.50 USD. BABA stock price was a maximum of 319.32 USD and a minimum of 204.39 USD within 52 weeks. Its average volume is 15,174,862 and it is ranked 603.407M in the MarketCap listings. The target point of BABA stock price at the end of 1 year is 294.16 USD.
Alibaba Group Holding Limited
Alibaba’s founder is Jack Ma, who is the son of a low-income Chinese family and is now the richest businessman in China. Jack Ma was born in 1964 and founded Ali Baba in 1999.
Ma’s parents are local artists, so he comes from a low-income family. His student years were not very successful. He wanted to get a university education 3 times, but he was not successful. For this reason, he decided to study English and graduated from the department of English language teaching.
He started his career by working for a company that made the websites of Chinese companies for a salary of 12 dollars. Going to the USA in 1998, Ma saw the supplier problem that the e-commerce sector had experienced and focused on a business idea that would solve this problem. Starting to work on a B2B project that will unite suppliers in China and e-commerce companies around the world, Ma started to look for a name for this project.
Summary of BABA Stock
BABA stock price fell 1.86% from $221.87 to $217.75 on the last day. This is the 4th day in a row that it has dropped. Throughout the day, the stock fluctuated 1.40% from the day’s low of $216.46 to the day’s high of $219.50. The price has risen 6 of the past 10 days. It also experienced a total increase of 2.57% in the last 2 weeks.
Volume increased by 59 thousand shares on the last trading day, regardless of price. The opposite direction of volume and price increases the risk and can be an early warning signal. In total, investors traded 13 million shares for approximately $2.80 billion.
The stock is in the middle of a broad and bearish trend for short-term trading. Also, we see more bearish signals within the trend. Considering the current short-term trend, BABA stock could drop by 8.25% over the next 3 months and hold a price between $178.60 and $209.61 at the end of this 3-month period. This will be a positive effect if the stock’s price manages to stay at the current level or even higher. This will positively change our rating for the stock.
Analysis of BABA Sock
BABA stock has a sell signal from the short-term moving average. But it also has a buy signal from the long-term average. The short-term average is above the long-term average. So there is a general buy signal that gives a positive forecast for the stock.
The stock is likely to meet the resistance of the short-term moving average at around $224.47. On the downside, the stock could find some support from the long-term average at around $215.62. A break of the short-term trading average sends a buy signal and a break of the long-term trading average sends a sell signal.
It also has a buy signal at the 3-month Moving Average Convergence Divergence. Besides the positive signals we are receiving, there are also some negative signals. These negative signals may have some impact on the near short-term development.
We received a sell signal from the pivot peak on June 29, 2021. On top of that, BABA stock is down 5.10% so far. It may experience further declines until a new low pivot. Volume rose against the price performance on the last trading day. This increases risk and can be an early warning signal, so the stock should be watched.