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USD/CAD: general analysis 21 September 2018, 12:37

USD/CAD: general analysis 21 September 2018, 12:37 Scenario Timeframe Weekly Recommendation SELL Entry Point 1.2905 ...

Sep 14, 2018

Alibaba Group Holding Ltd. (BABA/NYSE): general analysis 14 September 2018, 12:50


Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 168.10
Take Profit 174.00, 180.00, 185.00
Stop Loss 162.00
Key Levels 153.00, 160.00, 168.00, 175.00, 181.00
Alternative scenario
Recommendation SELL STOP
Entry Point 159.90
Take Profit 150.00, 145.00
Stop Loss 166.00
Key Levels 153.00, 160.00, 168.00, 175.00, 181.00
Current trend
After the publication of the quarterly report on August 23, shares of Alibaba Group lost 6.87% and renewed the 52-week minimum at the beginning of this week. Since early 2018, the instrument has fallen by 4% due to a decrease in the company's net profit in the functional currency by 41% YoY to 8.69 billion yuan, below market expectations. At the same time, the adjusted net earnings per share increased by 6% YoY to $1.22. Additional volatility is caused by the decision of the co-founder and CEO to leave his post in a year.
During the last week, Alibaba Group grew by 3.54% against the growth of the S&P 500 index by 0.90%.
Support and resistance
The company's shares began to restore after a significant decline in June-August. At the moment, quotes are testing the "mirror" resistance 168.00. The nearest support is at 160.00. There is potential for further growth. The signals of the indicators are ambiguous: the price was fixed below MA (50) and MA (200); MACD histogram began to rise. It is better to open the positions from the key levels.
The comparative analysis of the indicators of the company and its competitors suggests the neutrality of its share prices.
Resistance levels: 168.00, 175.00, 181.00.
Support levels: 160.00, 153.00.

Trading tips
Long positions can be opened after the price is set above the level of 168.00. The closing of the profitable positions is possible at the levels of 174.00, 180.00 and 185.00. Stop loss is at 162.00.
Short positions can be opened after the price is fixed below the level of 160.00 with the targets at 150.00–145.00. Stop loss is at 166.00.
Implementation period: 3 days.

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