When a stock price shot up there must be a reason. An institution buy will always send the stock rock high, a big candlestick or bar. We will cover this next time. Friday, August 12, the stock went from 92.91 low, to 98.35 high, a 5.44 range. Why? Beside the chart pattern suggested this, the reason is because of the Raymond James.
Raymond James
Alibaba Group Holding stock price shot up to one and half year high on trade Friday August 12, after the China-based e-commerce was upgraded at Raymond James, which cited strong quarterly results and an attractive valuation.
Aaron Kessler analyst at Raymond James rated BABA a strong buy stock, after maintaining an outperform rating since he began covering Alibaba nearly two years. Kessler raised his stock price target to $124, which is 26% above current levels, from $95.
Read more, http://www.marketwatch.com/story/alibabas-stock-takes-flight-after-analysts-strong-buy-call-2016-08-12,
August 12, 2016 Alibaba Group Holding 2016 till To-date
Picture Worth a Thousand Words
Let us have a look of the stock since its IPO. Down flow, at the bottom, reversal. Gartley 222 Sell Pattern? True or true? Will see.
August 12, 2016 Alibaba Group Holding Limited Since IPO Weekly Chart
Moses Stock Analysis and Scan
AmiBrokerAcademy.com
Disclaimer: All information, data and material contained, presented, or provided on amibrokeracademy.com is for educational purposes only. It is not to be construed or intended as providing trading or legal advice. Decisions you make about your trading or investment are important to you and your family, therefore should be made in consultation with a competent financial advisor or professional. We are not financial advisor and do not claim to be. Any views expressed here-in are not necessarily those held by amibrokeracademy.com. You are responsible for your trade decision and wealth being.