Time for Investors to Take the Plunge on Alibaba Group Holding Limited (NYSE:BABA)

Equity Research firms currently have a positive stance on shares of Alibaba Group Holding Limited (NYSE:BABA). The majority of analysts covering the equity have either a Buy or Strong Buy recommendation on the stock, yielding a consensus score of 1.80. This is based on the research brokerage reports taken into consideration by Thomson Reuters. Those same analysts are projecting that the stock will reach $112.70 on a short term basis.

At the time of writing, the stock was trading at $105.25. This represents a change from the opening price of -0.71%. In terms of performance, year to date, the stock is 29.67%. The monthly stock performance comes in at 8.17%. For the quarter, shares are performing at 33.44%. Weekly performance analysis shows the equity at -0.48%.

In taking a look at technical levels, shares are trading 9.27% away from the 50 day simple moving average and 30.18% away from the 200 day simple moving average. Based on a recent bid, the stock is trading -4.21% away from it’s 52- week high and 77.63% away from its 52 week low. After the recent moves, investors may also look to see if the stock has entered oversold or overbought territory and could be ripe for a bounce. As of writing, Alibaba Group Holding Limited’s RSI stands at 58.60. In looking at volatility levels, the shares saw weekly volatility of 1.81% and 2.38% over the past month.

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