Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>BABA Stock Price was up 4.54% in the previous trading session and trading near a three-month high.</a> </li> 
 <li> <span>2</span> <a>Alibaba Group stock sustains above the 50-day and 200-day EMA showcasing an upward reversing trend.</a> </li> 
 <li> <span>3</span> <a>Alibaba Group (NYSE: BABA) scheduled next quarter earnings on August 17, 2023.</a> </li> 
</ul> 
<p>BABA Stock price rose 4.54% in the previous sessions and created hope for a bullish trend reversal. It sustained the $90.00 support and formed a bullish continuation pattern.&nbsp;</p> 
<p>Alibaba Group Stock succeeded to climb above the 50-day and 200-day EMA showcase the trend is reversing upward. However, the confirmation will come when buyers are able to break the $100.00 hurdle.&nbsp;</p> 
<p>For the past few months, <a href="https://www.thecoinrepublic.com/2023/07/10/alibaba-stock-price-prediction-how-high-can-baba-stock-go/" rel="noopener noreferrer nofollow">BABA share price</a> has consolidated in the range between $80.00 to $90.00. It showed signs of base formation and responsive buyers tried their best to defend the lower range. Recently, buyers broke out of the higher range and expanded upward.&nbsp;</p> 
<p>Alibaba Group stock price recovered 20% approx from the recent swing low and bullish momentum is still intact.&nbsp;</p> 
<p>Previously, buyers tried to break out of the $100.00 hurdle multiple times but faced rejection. It indicates sellers are active and it’s going to be difficult for the buyers to break the higher range.&nbsp;</p> 
<p>Alibaba Group Holdings’ stock price closed the previous session at $96.35 with an intraday rise of 4.54%. The market capitalization stands at $249.31 Billion.</p> 
<h2 class="wp-block-heading" id="strong-will-baba-stock-price-regain-the-100-00-mark-strong"><strong>Will BABA Stock price regain the $100.00 mark?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/cKWwqqMZuJuGdzZiGAbMwWm8hRsBzCDa7wkxCzDosscYruQVOrZUsNcXCSXpiykkGMLzmgFNO60JvsneXK1L1faJxYE564SHtyLqw_qXWh2vVC1TEgnM7dQbmK0IOZVdvzyq5ugik0JZdHNKUkV4LA" alt="BABA Stock: Is the correction over in Alibaba Group Stock?"> 
  <figcaption class="wp-element-caption">
    NYSE: BABA daily chart by <a href="https://www.tradingview.com/x/rUHbEy70/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>BABA Stock Price Prediction is highly bullish for the long term till it holds the $80.00 support. However, it disappointed the expectation of the long-term investors and generated only 4.75% returns on a YTD basis.&nbsp;</p> 
<p>Till Alibaba stock sustains above $80.00 the possibility of reaching the $100.00 level remains high. If buyers succeed to break the $100.00 hurdle then a 10% to 15% rally is possible in a short span of time.&nbsp;</p> 
<p>However, if the price faces rejection from $100.00 then sellers might try to pull it down to previous lows.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-alibaba-group-stock-turned-bullish-on-multiple-timeframes-strong"><strong>Alibaba Group Stock turned bullish on multiple timeframes</strong></h3> 
<p>Alibaba Group Stock price (NYSE: BABA) is turning bullish on multiple time frames. It broke out of the higher range and is racing to the supply zone. <a href="https://www.thecoinrepublic.com/2023/07/10/alibaba-stock-price-prediction-how-high-can-baba-stock-go/" target="_blank" rel="noopener noreferrer nofollow">BABA</a> share price formed a bullish candle on the weekly time and is trying to regain the 50-week EMA.&nbsp;</p> 
<p>The MACD curve positively intersected with the moving average and sustained above the zero line. The histogram bar is on the rise which confirms the bullishness. The RSI curve at 64 denotes strength of the bulls and more room for the upside is open.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>BABA Stock price is rising upward and trying to regain the $100.00 mark. The recent up move looks strong and the probability of a $100.00 breakout remains high.&nbsp;</p> 
<p>The technical analysis suggests the correction in <a href="https://www.thecoinrepublic.com/2023/07/10/alibaba-stock-price-prediction-how-high-can-baba-stock-go/" target="_blank" rel="noopener noreferrer nofollow">Alibaba </a>Group stocks is over and time for recovery has arrived.&nbsp;&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li><strong>Resistance levels:</strong> $105.00 and $121.00</li> 
 <li><strong>Support levels: </strong>$90.00 and $80.00</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

BABA Stock: Is the correction over in Alibaba Group Stock?

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