Alibaba (9988.HK) - Chart wise, bullish mode! She is rising up to revisit 100 soon!

Wah, nice closing at 102.50 last Friday! The awakening of the Giant! Will she be able to overcome all the obstacles and continue to trend higher! 

Chart wise, she may rise up to test 122 than 130 and 142.4. Covering up the Gapped at 155.30 woukd be very positive! Pls dyodd. 

Quote: Alibaba Group Holding Limited's U.S.-listed shares skyrocketed on Thursday, surging 7.21% as China unveiled a sweeping stimulus package aimed at reviving the country's faltering economy. The e-commerce giant's stock rallied along with other Chinese tech giants, fueled by Beijing's aggressive pro-growth measures.

The catalyst for the stock rally was a series of stimulus steps announced by China's central bank, the People's Bank of China (PBOC). These included a 0.5 percentage point cut in the reserve requirement ratio for banks, freeing up around 1 trillion yuan ($140 billion) in long-term liquidity for lending and bond purchases. The PBOC also lowered key interest rates, such as the seven-day reverse repo rate, making borrowing cheaper for businesses and consumers.

 25th September 2024:

Alibaba (9988.HK) - Chart wise,  bullish mode! She is rising up to revisit 100 soon! 

With rate cut in China, price may react positively!

breaking out of 100 with with ease, ahe may rise up to test 120 than 140.

Pls dyodd.

  

Alibaba Group was established in 1999 by 18 people led by Jack Ma, a former English teacher from Hangzhou, China. From the outset, the company’s founders shared a belief that the Internet would level the playing field by enabling small enterprises to leverage innovation and technology to grow and compete more effectively in the domestic and global economies. Since launching its first website helping small and medium-sized enterprises in China to sell internationally, Alibaba Group has grown into a digital ecosystem with businesses comprising China commerce, international commerce, local consumer services, Cainiao, cloud, digital media and entertainment, innovation initiatives and others.

Vision

We aspire to be a good company that will last for 102 years. We envision that our customers will meet, work and live at Alibaba. Our vision for fiscal year 2036 is to serve 2 billion global consumers, enable 10 million businesses to be profitable and create 100 million jobs.

Values

Customers first, employees second, shareholders third

Trust makes everything simple

Change is the only constant

Today's best performance is tomorrow's baseline

If not now, when? If not me, who?

Live seriously, work happily.

Alibaba FY 2023 results:

• Revenue was RMB208,200 million (US$30,316 million), an increase of 2% year-over-year.
• Income from operations was RMB15,240 million (US$2,219 million), a decrease of 9% year-over-year.
• Adjusted profit rose 5% to $2.79 a share.

Chart wise, A nice gap up price pattern spotted on the chart yesterday,  looks rather interesting!

Short term wise,  with Nasdaq turning into an bullish uptrend mode direction I think Alibaba price may likely rise up to reclaim 90 then 96 with extension to 110.

Last night US side Alibaba closed positively looks like HK side may follow. 

Pls dyodd.