Form the one-month low of October 2, Alibaba Group shares have been strengthening. The growth comes amid a presentation to investors of a five-year development plan for the company. It includes collaboration in the cloud business with SAP, strengthening partnerships with Starbucks, as well as a new round of investment in Taiwan’s virtual reality startup and NetEase division. Since the beginning of the year, the issuer’s quotes have risen by 23%.
Over the past week, Alibaba Group shares rose by 0.65%. Over the same period, the S&P 500 index fell by 1.31%.
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Support and resistance
Shares of the company are falling. #BABA quotes updated local lows. The issuer is currently consolidating. The key support and resistance levels are 164.00 and 172.00. There is potential for further correction. The indicators do not give accurate signals: the price crossed MA (50) and MA (200); the MACD histogram is near the zero line. It is better to open the positions from the key levels.
A comparative analysis of the multiples of the company and competing companies in the industry indicates the underestimation of #BABA.
Resistance levels: 172.00, 177.00, 183.00.
Support levels: 164.00, 156.00, 148.00.
Short positions can be opened after the price consolidates below the level of 164.00. The closing of the profitable positions is possible at the levels of 158.00, 153.00 and 148.00. Stop loss – 170.00.
Long positions can be opened after the price consolidates above the level of 172.00 with the targets at 183.00–188.00. Stop loss – 166.00.
Implementation period: 3 days.
|Take Profit||158.00, 153.00, 148.00|
|Stop Loss||166.00, 170.00|
|Key Levels||148.00, 156.00, 164.00, 172.00, 177.00, 183.00|
|Take Profit||183.00, 188.00|
|Key Levels||148.00, 156.00, 164.00, 172.00, 177.00, 183.0|
|Oct-04-19||Reiterated||HSBC Securities||Buy||$230 → $233|
|May-16-19||Reiterated||The Benchmark Company||Buy||$205 → $220|
|May-07-19||Reiterated||KeyBanc Capital Markets||Overweight||$210 → $240|
|Jan-31-19||Reiterated||SunTrust||Buy||$180 → $200|
|Jan-31-19||Reiterated||Stifel||Buy||$175 → $180|
|Jan-31-19||Reiterated||Nomura||Buy||$200 → $205|
|Jan-31-19||Reiterated||Macquarie||Outperform||$220 → $224|
|Jan-31-19||Reiterated||KeyBanc Capital Mkts||Overweight||$200 → $210|
|Jan-31-19||Reiterated||Citigroup||Buy||$208 → $211|
|Jan-31-19||Reiterated||BofA/Merrill||Buy||$221 → $215|
|Jan-31-19||Reiterated||Barclays||Overweight||$195 → $200|
|Nov-05-18||Reiterated||The Benchmark Company||Buy||$220 → $205|
|Oct-29-18||Reiterated||Nomura||Buy||$224 → $202|
|Oct-23-18||Reiterated||Macquarie||Outperform||$250 → $225|
|Oct-22-18||Reiterated||The Benchmark Company||Buy||$245 → $220|
|Oct-15-18||Reiterated||Susquehanna||Positive||$295 → $220|
Alibaba Group Holding Limited, through its subsidiaries, offers online and mobile commerce businesses in the People’s Republic of China and internationally. It operates in four segments: central commerce, cloud computing, digital media and entertainment, and innovation and other initiatives. The company operates Taobao Marketplace, a mobile commerce destination; Tmall, a third party platform; Alibaba Health pharmaceutical platforms for e-commerce and consumer medical care; Alimama, a monetization platform; 1688.com, an online wholesale market; Alibaba.com, an online wholesale market; AliExpress, a retail market; Lazada, an electronic commerce platform; and Tmall Global, an import e-commerce platform. It also operates Lingshoutong, a digital sourcing platform; Cainiao Network logistics services platform; Ele.me, a delivery platform and local services; Koubei, a guide platform for restaurants and local services; and Fliggy, an online travel platform. In addition, the company offers payment for performance and visualization marketing services; and Taobao Ad Network and Exchange, an online marketing exchange for real-time bidding. In addition, it provides elastic computing, database, storage, virtualization network, large-scale computing, security and administration and application, big data analysis, machine learning platform and Internet of things and other business services; and payment and custody services; and movies, television series, variety shows, animations and other video content. In addition, the company operates Youku, an online video platform; UC Browser, a mobile browser; Alibaba Pictures and other content platforms that provide online videos, movies, live events, news, literature, music and others; Amap, a digital mobile map, navigation and real-time traffic information application; DingTalk, an enterprise efficiency application; and Tmall Genie, an intelligent speaker with artificial intelligence technology. The company was founded in 1999 and is based in Hangzhou, People’s Republic of China.