Annual Trading Forecast for Alibaba Group (2017)

Alibaba Group shares (NYSE:BABA) are in a bullish mode. The market has started trending upwards and it should continue doing so.

The ADX period 14 is around the level 40, showing that there is a considerable momentum in the market. The DM+ is above the DM-, meaning that buyers have upper hands over sellers. The MACD, default parameters, has both its histogram and signal lines above the zero line.

There is a Bullish Confirmation Pattern in the market and Alibaba Group could continue going northwards this year, reaching the supply levels at 120.00, 130.00, 140.00 and 150.00.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Traders’ Mindset:  Traders' Mindset

  

Source: http://uk.advfn.com/newspaper/authors/azeez-mustapha

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