Alibaba Stock Jumps As Trump's Iran Ceasefire Triggers Massive Tech Rally

Benzinga_recent_news04-08 17:56

Alibaba shares jumped alongside Hong Kong equities after the U.S. and Iran agreed to a two-week ceasefire, easing fears of an escalation of conflict and sending oil prices sharply lower. The drop in ...

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It enables tens of thousands of chips to operate as a single system, improving training and inference efficiency while supporting large-scale AI models.\nThe company said industries such as healthcare and advanced manufacturing are already using the system, while smaller firms can access computing power on demand.\nAt $124.45, Alibaba is trading 0.5% above its 20-day simple moving average (SMA), the stock’s average price over the last 20 sessions, which suggests short-term selling pressure may be easing. At the same time, it’s trading 14.6% below its 100-day SMA, indicating the intermediate trend is still pointed down.\nThe relative strength index (RSI), a momentum gauge, is 30.61, which is consistent with a market that’s been stretched to the downside but is trying to stabilize. In April, the death cross (50-day SMA falling below the 200-day SMA) reinforced the longer-term trend pressure favoring sellers until the stock can reclaim key moving averages.\nOver the last 12 months, the stock is up 20.48%, a backward-looking gain that shows the longer arc hasn’t fully broken despite the recent drawdown. Within the 52-week range ($95.73 to $192.67), the current price sits closer to the lower end, which often keeps rallies more “prove it” than “breakout” until levels are reclaimed.\nLooking further out, the next major catalyst for the stock arrives with the May 14, 2026 (estimated) earnings report.\nAnalyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $182.21. Recent analyst moves include:\nSignificance: Because BABA carries significant weight in these funds, any significant inflows or outflows will likely trigger automatic buying or selling of the stock.\nBABA Price Action: Alibaba shares were up 7.71% at $128.94 during premarket trading on Wednesday, according to Benzinga Pro data.\nImage via Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.40.0","shortVersion":"4.40.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2625822917","isCrawlerRequest":true}