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What's Stopping Alibaba Stock From Getting Back to $300?
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Chinese stimulus package was the phrase that paid today. The Chinese are cutting interest rates and taking extreme measures to prop up its real estate and stock market. That helped luxury goods makers, material stocks as well as the obvious, Chinese stocks. The most famous Chinese stock of all, the “Amazon of China” Alibaba (BABA - Free Report) was a main beneficiary.
This is a stock that came down to $73.87 on August 5th. In a few short weeks, the stock came up to short-term resistance around $84. A series of higher lows was put in throughout late August and earlier this month. It wasn’t until this month that the stock really took off, acerating through that $84 resistance level to the $97.19 the stock closed at today.
Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.
Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.
Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.
Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.
Dave Bartosiak's technical analysis approach adds depth to our understanding Alibaba’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.
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What's Stopping Alibaba Stock From Getting Back to $300?
Chinese stimulus package was the phrase that paid today. The Chinese are cutting interest rates and taking extreme measures to prop up its real estate and stock market. That helped luxury goods makers, material stocks as well as the obvious, Chinese stocks. The most famous Chinese stock of all, the “Amazon of China” Alibaba (BABA - Free Report) was a main beneficiary.
This is a stock that came down to $73.87 on August 5th. In a few short weeks, the stock came up to short-term resistance around $84. A series of higher lows was put in throughout late August and earlier this month. It wasn’t until this month that the stock really took off, acerating through that $84 resistance level to the $97.19 the stock closed at today.
Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.
Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.
Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.
Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.
Dave Bartosiak's technical analysis approach adds depth to our understanding Alibaba’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.