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Alibaba Group Holdings Ltd., Technical Analysis

12/13/2022 10:07 AM

Shares of Alibaba Group Holdings Ltd., one of the world's largest e-commerce companies, correct at 89.00.

On the daily chart, the price has left the narrow downward channel with dynamic boundaries of 40.00–74.00, and the first attempt to consolidate above the 50.0% Fibonacci intermediate correction level at 91.80 was unsuccessful.

On a four-hour chart, the uptrend has a high potential to continue, and after a slight rollback of quotes, the instrument will make another attempt to consolidate above 91.80. Overall, there is very little time left before reaching the full Fibonacci 61.8% retracement at 100.00.

Technical indicators keep a stable buy signal: fast EMAs on the Alligator indicator move away from the signal line, and the AO oscillator histogram forms upward bars in the buying zone.



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