Alibaba earnings - this is what the market is telling us now. One price level you must know.
$Alibaba(BABA.US$ $BABA-SW(09988.HK$ is reporting on 7 Feb 2024. This is a highly monitored earning report - the question is whether the price will finally reverse up from here.
Few technical pointers to consider:
1. Price has broken out of a downsloping channel on high volume -> good
2. Price is still resisted by a cluster of historical support and resistance around 76 -> not good
3. Price is still above 72.50 on a day close -> good
From a technical point, as long as:
Price can stay above 72.50 after earnings, I see this as a positive development for the stock.
Short-term trading instruments:
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MonkeyGee : just forget about BABA, its one excuse after another. Face the fact that BABA won't go up till Jack MA apologizes