Chart of the Day: Alibaba Group Holding (BABA)

NYSE: BABA | Alibaba Group Holding Ltd News, Ratings, and Charts

BABA – Alibaba Group Holding (BABA) is in symmetrical triangle pattern. Learn when to enter a buy position.

A symmetrical triangle pattern has emerged in the chart of Alibaba Group Holding (BABA).

Alibaba Group Holding (BABA) is the world’s largest online and mobile commerce company. It operates China’s most-visited online marketplaces, including Taobao and Tmall. The company continues to see strong growth in e-commerce, and its strengthening cloud business will be an additional tailwind going forward.

Take a look at the 1-year chart of BABA below with my added notations:

 

(Chart of BABA provided by TradingView )

As you can see, a symmetrical triangle chart pattern has formed in BABA. There is trendline resistance converging with trendline support, which forms the triangle pattern (blue).

A trader could enter a long position on a break above the trendline resistance or a short trade if/when it falls below the trendline support.

(BABA is one of the stocks currently in Steve Reitmeister’s Total Return portfolio. Learn more here.)

Keep an eye out tomorrow, Thursday 8/20/20,  morning before the opening bell, as BABA will report its latest quarterly financial results.

Want to Discover More Great Trades?

I have explored virtually every flavor of technical analysis and chart pattern known to mankind. The sad fact is that the vast majority of them don’t work at all.

That is why I recently put together this presentation to help investors focus on the only 5 chart patterns that matter…the ones that lead to the most timely and profitable stock trades. Click below to learn these patterns and how to quickly find the 5 to 7 best trades today.

5 WINNING Stock Chart Patterns

Have a good trading day!

Good luck!

Christian Tharp, CMT

@cmtstockcoach


BABA shares were trading at $258.35 per share on Wednesday morning, down $0.85 (-0.33%). Year-to-date, BABA has gained 21.81%, versus a 6.34% rise in the benchmark S&P 500 index during the same period.


About the Author: christian


Christian is an expert stock market coach at the Adam Mesh Trading Group who has mentored more than 4,000 traders and investors. He is a professional technical analyst that is a certified Chartered Market Technician (CMT), which is a designation awarded by the CMT Association. Christian is also the author of the daily online newsletter Todays Big Stock. More...


More Resources for the Stocks in this Article

TickerPOWR RatingIndustry RankRank in Industry
BABAGet RatingGet RatingGet Rating

Most Popular Stories on StockNews.com


:  |  News, Ratings, and Charts

3 Signs of a NEW Stock Market Bubble

Value investors are pounding the table that the stock market (SPY) is already in bubble territory not unlike 1999. Indeed they are right about the lofty valuation levels. But they are wrong that it’s time to get ready for the next bear market to emerge. Check out Steve Reitmeister's game plan to ride the bubble up and then parachute out at the right time. Read on for more...

:  |  News, Ratings, and Charts

Top 10 Value Stocks

The S&P 500 (SPY) has shown mixed results in the last week, but if you are a value investor, then yesterday was a big day. That’s when we revealed to our readers the fatal flaws of traditional value investing and the solution to this problem—our Top 10 Value Stocks strategy. Read on below to find out more about this 3-step process and its +38.63% annual returns…

:  |  News, Ratings, and Charts

3 Housing Market Stocks to Buy on the Dip

The housing market's strength is going to continue well into the next decade due to favorable supply and demand factors.

:  |  News, Ratings, and Charts

Finding Gems Amid the Market Wreckage

The S&P 500 (SPY) selloff has intensified this past week. So far, it’s looking and behaving like a culmination of the market’s rotation out of growth stocks. We’ve seen big declines in certain parts of the market from the big winners of 2020 that peaked in mid-February. Since their recent highs - the cannabis ETF (MJ) is down 44%; the cloud computing ETF (WCLD) is down 27%; and the semiconductor ETF (SMH) is down 14%. In today’s commentary, I cover some of the opportunities that have been created, ways to take advantage, and what I’m monitoring when it comes to the broad weakness in the market. Read on below to find out more…

:  |  News, Ratings, and Charts

3 Housing Market Stocks to Buy on the Dip

The housing market's strength is going to continue well into the next decade due to favorable supply and demand factors.

Read More Stories

More Alibaba Group Holding Ltd (BABA) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All BABA News