Beware, Alibaba Group Holding Ltd. is hungry for the markets! The company is now the third-largest public cloud provider after Amazon and Microsoft Corp. Its market cap is growing really fast, up 61% in the past 12 months against Amazon's 67%.
As if that wasn't enough, Alibaba is currently looking to expand tremendously, investing in growth aggressively. The company next reports earnings on May 5, with a profit of 71 cents per share expected on the revenue of $9.08 billion. We're excited to see what happens!
Alibaba is surrounded by competitors, but surprisingly, competition seems to be working for, not against the company that finds pure motivation in it to explore and conquer more and more niches.
Nenad Kerkez, our professional trader and analyst, will give you a more detailed overview of Alibaba share CFD price.
Alibaba Share CFD Price
Alibaba share CFD price (#BABA) is currently in a consolidation period, but soon we might see a bounce in dominant trend direction. At this point, the price is very close to the point of confluence - the POC zone, so we might expect a bounce soon, mainly because Friday is a profit-taking day. The POC zone is the zone where the price could bounce: 163.24-166.60. However, if the price closes above the M L3 -176.34, that could also be a trigger for a continuation up. Target is M H4 197.85. Only a break below M L5 156.24 could jeopardise bullish dominance. Buying the dip is still the way to go!
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Olga & Nenad
This material does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not reliable indicator for any current or future performance as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks.