Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Alibaba stock is under selling pressure after facing rejection from the 50 EMA resistance level.</a> </li> 
 <li> <span>2</span> <a>Sellers gained momentum with an aggressive charge in the past sessions.</a> </li> 
</ul> 
<p>Alibaba stock price faced difficulty in surpassing the 50 EMA resistance level and remained confined beneath it. Currently, Alibaba shares require an influx of buyers to drive an upward movement toward recovery.&nbsp;</p> 
<p>Moreover, there’s an observed low trading volume. Simultaneously, Alibaba shares have descended beneath the 50, 100, and 200-day daily moving averages.</p> 
<p><a href="https://www.thecoinrepublic.com/?p=160018&amp;preview=true" rel="noopener noreferrer nofollow">Alibaba’s stock price</a> fell 7.79% last week and fell by 0.97% over the month. However, BABA shares experienced a drop of roughly 10.25% within the past six months and a decrease of 1.35% over the past year.</p> 
<p>Further, the BABA share price has declined by roughly 0.50% year to date. These trends collectively indicate the challenges faced by Alibaba shares in their recovery efforts throughout the year.</p> 
<p>Technical indicators highlight the downtrend in Alibaba’s stock price. The relative strength index and moving average convergence divergence both predict the slippage in Alibaba’s share price.</p> 
<p>The price at present requires substantial support from the buyers in order to make a recovery as it is facing strong resistance from the previous resistance points and multiple moving average levels. Buyers are dominating, according to the candlestick patterns.</p> 
<p>The price may soon attempt to make a bullish recovery. However, as it is trading below the key EMA levels, the bulls will have to face multiple resistance levels in order to attain the target. Bulls are presently making continuous efforts to take charge of the trend.</p> 
<p>On the daily charts, Alibaba stock shows sellers’ dominance and slipped below neutrality, showing a negative outlook on the charts. Moreover, the price dropped below the 23.60% Fib level, heading toward the 50% Fib level and near the lower Bollinger band.</p> 
<p>Overall, the technical indicators and price action suggest that Alibaba stock is bearish and that the downtrend may continue.</p> 
<h2 class="wp-block-heading" id="strong-analysts-take-on-alibaba-stock-strong"><strong>Analysts Take on Alibaba Stock</strong></h2> 
<p>Out of 60 analysts covering Alibaba stock, 46 recommend a ‘Strong Buy,’ 6 recommend ‘Buy,’ 6 are recommending Alibaba as a Hold, 0 (0%) are recommend ‘Sell,’ and 2 are recommend ‘Strong Sell.’</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full"> 
  <img decoding="async" width="868" height="338" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-89.png" alt="Alibaba Stock: What to Expect From BABA in 2023?" class="wp-image-160102" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-89.png 868w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-89-300x117.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-89-768x299.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-89-750x292.png 750w" sizes="(max-width: 868px) 100vw, 868px"> 
  <figcaption class="wp-element-caption">
    Source: trading view 
  </figcaption> 
 </figure> 
</div> 
<p>The average BABA stock price target is $136.95, which implies a potential upside of 51.07%% from the current price of $90.65. The highest <a href="https://www.thecoinrepublic.com/?p=160018&amp;preview=true" rel="noopener noreferrer nofollow">BABA stock price </a>target is $185.01, while the lowest Alibaba stock price target is $71.10.</p> 
<h3 class="wp-block-heading" id="strong-technical-overview-of-alibaba-stock-strong"><strong>Technical Overview Of Alibaba Stock</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/G51emZwTy1mPgqA6OanYaAj5U6mB-ofQGeaKYCwyONcQIa14GyLDhAo5FGy1TWW6jDJFpGsArCl2VFPHfgY9O9gs2IAetYEj6qEXc3nRUtAXeR0IwVM-zCnLABgjEJVzIksZlhR6mCZFRRXMvE990g" alt="Alibaba Stock: What to Expect From BABA in 2023?"> 
  <figcaption class="wp-element-caption">
    Source: trading view 
  </figcaption> 
 </figure> 
</div> 
<p>At the time of publishing, Alibaba stock (NYSE: BABA) is trading below the 50 and 200-day EMAs exponential moving averages, which are not supporting the price trend.&nbsp;</p> 
<p>The current value of RSI is 51.46 points. The 14 SMA is above the median line at 41.10 points which indicates that Alibaba stock is bearish.</p> 
<p>The MACD line at -0.0389 and the signal line at -0.0889 are above the zero line. A bearish crossover is observed in the MACD indicator which signals more bearishness for the BABA stock price.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>Alibaba (NYSE: BABA) technical oscillators also support the bearish trend. The MACD, RSI, and EMA are giving negative signs and imply that the downtrend may continue in the BABA stock price. Alibaba price action suggests that the investors and traders are bearish on the 1-D time frame.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> Nearest support levels are S1 = 89.03 and S2= 75.91.</li> 
</ul> 
<ul> 
 <li><strong>Resistance Levels:</strong> Nearest resistance levels are R1 =108.89 and R2 =115.63.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.</p>

Alibaba Stock: What to Expect From BABA in 2023?

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