BABA expected to rise up to 1st resistance at 192.55 where it could potentially react off and drop down to 1st support at 171.14. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
The pattern is a contracting triangle that shoots through the resistance but I do see reaching the oversold area, yet BABA can be in the oversold for 2-4 months from past performance steadily increasing in price...near long term has an average price target of 229 with upside between 200-280. General analyst consensus is to go long. I'm holding as they will launch an IPO this month in HK which will boost the stock plus they got a Singles day which is worth a few of our holidays combined in terms of profits, can't imagine the stock going down this quarter. They did mention something about splitting shared 1:8 in june to enter HK market yet don't see any new info or confirmations on that in recent news. I'd actually welcome it, it might drop the price temporarily but 8 shares for each of mine would be awesome, look what happened to apple stock every time it split, went up and the market is due to keep going north for now. accumulate is the consensus <-- "agree" is my opinion based on everything I've reviewed. If someone has anything contrary to this, I'd love to hear it. This comment is for directly trading Baba stock.