Alibaba's chart resembles Apple before its recent breakout

NYSE:BABA   Alibaba Group Holdings Ltd.
Today was Singles Day for cyber-shoppers in Asia. The annual event by Chinese e-commerce giant Alibaba (BABA) set another record, up 27 percent from 2018.

Earnings have beaten estimates for the last three quarters. BABA's also a key stock to watch if trade relations between the U.S. and China continue to show signs of improvement.

Still, it's been trapped in a range all year while making higher lows. Interestingly, the current price action may resemble Apple ( AAPL ) about two months ago. The iPhone maker was in a range and holding its 50-day SMA . Then it broke a triangle and paused for a few weeks before heading to new highs. Does BABA face a similar setup now?


Here's the AAPL chart showing price action in September and October:


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out