Stock performance with laptop and calculator

Alibaba Leads 5 Top Chinese Internet Stocks Setting Up In Bases

Stock performance with laptop and calculator

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Chinese stocks are showing strength in the new year, and several could soon present buying opportunities: Alibaba ( BABA ), Sina ( SINA ), Weibo ( WB ), Autohome ( ATHM ) and ( JD ).

Alibaba and Sina are members of the IBD 50 , along with several other leading Chinese stocks.


[ibd-display-video id=3070945 width=50 float=left autostart=true] After retaking the key 50-day line in strong volume last Tuesday, Alibaba closed Friday at 190.70, less than 1% below a flat base buy point of 191.85.

Alibaba dipped 0.2% to 190.33 on the stock market today .

Alibaba has a lagging Relative Strength line, which hasn't made much headway since August. The RS line tracks a stock's performance vs. the S&P 500.

Alibaba is adding 30 Hama supermarkets in Beijing, continuing to expanded its physical store presence.


Chinese web portal Sina has been consolidating since October, and was recently able to climb back above its 50-day line as well. Sina shares are 6% below a 119.30 entry. Sina also has a lagging RS line.

Sina climbed 0.2% to 112.64.


Weibo, which is majority-owned by Sina, saw a strong bounce off its 50-day line that helped shares begin to form the right side of a new cup base, surging nearly 17% last week to 120.86. Weibo, which is a leading social network in China, has a 123.10 buy point.

Weibo fell 0.7% to 120.03 after climbing intraday to 122.21.

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Autohome surged nearly 11% in big volume on Jan. 2, clearing a 67.79 buy point from a consolidation that began last August. The Relative Strength line is hitting new high ground on the weekly chart, which is a confirming indicator. Autohome closed the week at 73.71, modestly extended from that entry. But if the stock pulls back to the buy zone in an orderly fashion, it could provide an additional opportunity to initiate a position.

Autohome rose 1.6% to 74.92.

Autohome is the leading auto information site in China. The stock was recently added to IBD's Leaderboard. blasted higher Friday, adding gains after clearing a 43.58 handle entry on Tuesday. JD's breakout came on sluggish volume, which is not great. The stock is now at the edge of the 5% chase zone. JD edged up 1% to 46.10 Monday., a leading Alibaba e-commerce rival, is now some 8% below its prior high reached last August.


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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