Singles’ Day | BABA | Alibaba Group Holding | AmiBrokerAcademy.com
December 10, 2016
Singles’ Day and Black Friday and India …
Four more hours before the day is over but Alibaba has hit last year record on the Singles’ Day sales record. You can read the story on Bloomberg, Alibaba Tops Singles’ Day Record as Chinese Consumers Rally. The Singles’ Day was inception in 2009 and now it has become a big event of the year. Internet has changed the world in many ways, this is just one of the phenomena.
Alibaba Group. broke its Singles’ Day sales record this year, sales on its e-commerce reached 102 billion yuan ($15 billion) shortly before 8 pm in China. Topping its last year’s total sales of 91.2 billion yuan.
India the next big economic giant in the near future. Someone may want to start something similar. …
BABA | Alibaba Group Holding Limited Stock Chart
The price action is still on uptrend, the price is forming higher high and higher low. There is a big pullback, when the price action goes below the brown level. There is a potential of reversal. See chart for more.
BABA | Alibaba Group Holding Limited Stock Chart Bearish Flag Pattern
Second look at the chart, we see a potential bearish flag chart pattern. Be aware!
BABA | Alibaba Group Holding Limited Stock Chart Bar by Bar
Reading the bar by bar, we see the MA is coming together, there is a potential for the price action to move north first before come down. Remember all set up can fail. Watch the space for more.
Moses Free Stock Analysis
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