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.
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