Alibaba Group Holdings Ltd ADR (BABA) Technical Outlook
There was a week full of news and developments for Alibaba. The uncertainty about the suspended IPO of Ant Financial’s (Alibaba’s affiliate) combined with the concerns of the slower sales growth reversed the strong overall bullish trend of Alibaba’s stock, pushing the stock edging lower. Moreover, Alibaba’s revenues fell short of Wall-Street’s expectations of around $400 million.
For a daily investment approach, as analysts, we suggest a Strong Sell position due to the technical indicators shows a strong sell signal, and the moving averages state a sell signal. For an investment with a weekly or monthly duration, we can not say anything because of the rapid developments all over the world.
For a daily investment approach, as analysts, we suggest a Strong Sell position due to the technical indicators shows a strong sell signal, and the moving averages state a sell signal. For an investment with a weekly or monthly duration, we can not say anything because of the rapid developments all over the world.
Alibaba Group Holding Ltd ADR Stock
€94.00
9.560%
The stock is one of the favorites of our community with 50 Buy predictions and 2 Sell predictions.
With a target price of 106 € there is a slightly positive potential of 12.77% for Alibaba Group Holding Ltd ADR compared to the current price of 94.0 €.