Antony_NPBFX
NPBFX Representative (unconfirmed)
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Alibaba Group Holdings Ltd.: technical analysis 29.05.2024
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on Alibaba Group Holdings Ltd. for a better understanding of the current market situation and more efficient trading.
Shares of Alibaba Group Holdings Ltd., one of the largest companies in the field of Internet commerce, are corrected at 81.00.
On the daily chart, after reaching the full correction level of 61.8% at Fibonacci 88.40, the price indicated a downward reversal.
On the four-hour chart, the potential for downward dynamics has increased significantly against the quotes consolidating below the intermediate correction level of 50.0% Fibonacci 84.20, and a movement below the core correction level of 38.2% Fibonacci 80.00 will be a catalyst for reaching the channel resistance line 72.00.
Technical indicators are ready to give a sell signal: fast EMA on the Alligator indicator are above the signal line, actively narrowing the range of fluctuations, and the AO histogram forms downward bars, decreasing in the buy zone.
Trading tips
Short positions may be opened after the consolidation below 80.00, with the target at 74.80. Stop loss – 83.00. Implementation period: 7 days or more.
Long positions may be opened after the consolidation above 84.20, with the target at 88.40. Stop loss – 82.00.
Use more opportunities of the NPBFX analytical portal: economic calendar
Be ready for any market changes through global events using the economic calendar on the NPBFX portal. The calendar contains all the most important events of the world economy and prognoses for them. In order to get free and unlimited access to the economic calendar and other useful instruments on the portal, you need to pass a one-time registration on the NPBFX website.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on Alibaba Group Holdings Ltd. and trade efficiently with NPBFX.
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on Alibaba Group Holdings Ltd. for a better understanding of the current market situation and more efficient trading.
Shares of Alibaba Group Holdings Ltd., one of the largest companies in the field of Internet commerce, are corrected at 81.00.
On the daily chart, after reaching the full correction level of 61.8% at Fibonacci 88.40, the price indicated a downward reversal.
On the four-hour chart, the potential for downward dynamics has increased significantly against the quotes consolidating below the intermediate correction level of 50.0% Fibonacci 84.20, and a movement below the core correction level of 38.2% Fibonacci 80.00 will be a catalyst for reaching the channel resistance line 72.00.
Technical indicators are ready to give a sell signal: fast EMA on the Alligator indicator are above the signal line, actively narrowing the range of fluctuations, and the AO histogram forms downward bars, decreasing in the buy zone.
Trading tips
Short positions may be opened after the consolidation below 80.00, with the target at 74.80. Stop loss – 83.00. Implementation period: 7 days or more.
Long positions may be opened after the consolidation above 84.20, with the target at 88.40. Stop loss – 82.00.
Use more opportunities of the NPBFX analytical portal: economic calendar
Be ready for any market changes through global events using the economic calendar on the NPBFX portal. The calendar contains all the most important events of the world economy and prognoses for them. In order to get free and unlimited access to the economic calendar and other useful instruments on the portal, you need to pass a one-time registration on the NPBFX website.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on Alibaba Group Holdings Ltd. and trade efficiently with NPBFX.
