$BABA's Short-term Resistance Come to $120 Again, Pass or Not?

 $Alibaba(BABA)$working its way into the top 20 most mentioned on wallstreetbets over the last 24 hours.

Last week,$Alibaba(BABA)$ led the rise in the concept of alibab. On Monday, Alibaba rose another 3,19% to quote $111.3. BABA has up more than 60% since November.

Welcome to read: Alibaba Concept Soaring: Is Alibaba A Good Buy For 2023?

The latest news shows that, the funder of $Alibaba(BABA)$ Jack Ma no longer actually controls Ant Group, and Ant Group's listing trip may be postponed again. It takes 3 years to wait for the A-share main board to be listed, and the waiting period for the A-share Science and Technology Innovation Board and the Hong Kong stock market are 2 years and 1 year respectively.

Source：https://techwireasia.com/

$Alibaba(BABA)$ is mainly engaged in e-commerce business, and was once the top 3 Chinese enterprise listed in US. But the past 3 years can be described as living in dire straits.

The business has been continuously eroded by $JD.com(JD)$, $Pinduoduo Inc.(PDD)$ and Tiktok in China. The IPO road of related holding companies is not smooth either.

After Ant group announced its listing plan on July 20, 2020, $Alibaba(BABA)$‘s stock price soared to $319. While 3 months later, when Ant Group was announced to suspend its listing plan, BABA's stock began a "falling and falling" process.

Coupled with the administrative punishment by the State Administration of Market Regulation in accordance with the Anti-Monopoly Law, the decline in profit margins in earnings,  the "pre-delisting" list updated by the US SEC, and the Fed's continuous interest rate hikes... $Alibaba(BABA)$ 's stock price has fallen to as low as $58, a 81% decline from it's highest price.

Recently, with China's re-openning policy, Chinese stocks have risen for two consecutive months. Some high-quality stocks have returned to people's sight again，Chinese Stocks Rose Against the Market ,Safe-Haven in 2023?

From Wallstreet_tiger

So the question is, where will this round of BABA rebound go? 

As of press time, $Alibaba(BABA)$ rose 1.74% to $112.76 in pre-market on Tuesday. 

In the short term, looking back on the past year, $Alibaba(BABA)$ failed to stand on $120 in February, March, June, and July.

Now the stock price of $BABA is very close to $120, will it continue to rise in the near future?

Let's Vote: Can $Alibaba(BABA)$ break through over $120 smoothly?

1. Yes, it can,  as the Chinese concept stocks still have momentum in the near future. From the data point of view, and $Alibaba(BABA)$ see a large bet on Call options.

2. No, it canot.  as it has risen too much, and macro depression risk and the risk of financial report data still exists..

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