Don't Ignore This Chart!

Alibaba (BABA) Finally Breaks Out Of A Base


Alibaba (BABA) finally gave investors the move they have been waiting for since the IPO. A surge into the price action that represents a top performing stock. Notice the improvement this week taking the SCTR to 97. This is a great move by a stock and investors are buying the shares.

With the technical breakout above resistance and a follow through day shown on the daily, this looks very bullish. The volume associated with the breakout and the MACD soaring to the highest levels yet, suggests the move is starting. This looks like the performer many people expect Alibaba to be.

Good trading,
Greg Schnell, CMT, MFTA.

Announcement from the Author

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Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the Market Technicians Association (MTA) and the International Federation of Technical Analysts (IFTA).

Greg is also the co-author of Stock Charts for Dummies (Wiley, 2018). Greg joined in 2012 and has be instrumental in helping launch a variety of new blogs and other commentary platforms. Presently, Greg contributes market analysis commentary to The Canadian Technician, Commodities Countdown and Don't Ignore This Chart blogs. Learn More
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