$BABA 20241018 120.0 CALL$ This 18Oct Call is locked and loaded ready for 7Oct24 Monday Open for $Alibaba(BABA)$ 🔺🅱️ullish for this BABA❣️
Red tops $113.8-$115.29
$112.70 Orange band support
$119 Fibonnaci 🎯
$127.30 & $138.11 above
Alibaba is not just cruising; it’s riding a wave of green for the third straight week! 🚀 The 🇨🇳 China tech titan has been soaring, with the latest surge driven by expectations that China’s central bank will dish out more stimulus measures. The ripple effect is clear, stocks across the sector, including Alibaba’s fellow e-commerce heavyweights JD.com (JD), Baidu (BIDU), and PDD Holdings (PDD), all ended last week on a high. 📈📦
What’s brewing in China? ☕ The People’s Bank of China has trimmed the banks’ reserve requirement ratio (RRR) by 50 basis points and slashed the seven-day reverse repo rate to 1.5%. The goal? Get people spending and boost domestic consumption. Word on the street is that homeowners will soon be able to refinance their mortgages too. 👀🏡
John Choi of Daiwa Securities reminds us that stocks are still trading below their three- and five-year averages, and he reckons further stimulus will make e-commerce companies like Alibaba the shining stars of the market recovery. ✨
💰💰💰 Capital Flow Snapshot:
• BABA: Up 37% in 30 days
• JD: Up 66%
• PDD: Up 65%
• BIDU: Up 33%
The broader market has benefited from the recent stimulus, which restored over $3 trillion in market value to Chinese stocks, from Hong Kong to New York. As we head into Singles’ Day on November 11—a blockbuster shopping event—Alibaba has already earmarked ¥40 billion (about $5.7 billion) for Taobao and Tmall to make the event epic. 🛍️🛒
And let’s not forget, China’s economy has been grappling with issues like semiconductor shortages (thanks, COVID) and a regulatory crackdown that cost Alibaba the much-anticipated Ant Group IPO. Yet, despite all the challenges, things are looking up! 💼📉
🎉 Fun Fact 🎉: Back in 2017, Alibaba set a record by handling 1.48 billion transactions in a single day during Singles’ Day. With this year’s festival around the corner, we might see even bigger numbers. 🌍📦
🟢 Buy: 34
🟡 Hold: 12
🔴 Sell: 3
Even Chinese EV stocks like NIO (NIO), Li Auto (LI), and XPeng (XPEV) have seen gains, but Alibaba’s focus remains on growth, especially as the U.S. and Europe cut reliance on Chinese semiconductor supply chains.
Hey Tiger Traders: With Singles’ Day and stimulus on the horizon, are we looking at a Black Friday for Alibaba or just a flash sale? 💡
@TigerGPT What impact will the upcoming Singles’ Day have on Alibaba’s stock performance, given the current e-commerce tailwinds?
Happy trading ahead. Cheers, BC 🍀
@Tiger_comments @TigerPicks @TigerStars @TigerWire @TigerPM @Daily_Discussion
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Based on the news and articles related to Alibaba (BABA) during the period of October 5 to October 7, 2024, here are some key points:
Alibaba's stock has benefited from the Chinese government's stimulus measures, which have boosted investor sentiment and led to a surge in the stock price.
Source: Alibaba: Taking Advantage Of The Squeeze To Generate Income
Regulatory scrutiny on Chinese companies, including Alibaba, has eased, contributing to the positive sentiment and the bull run of Chinese equities.
Source: Alibaba: The Bull Run Has Just Begun
Alibaba has repurchased $4.1 billion in shares, reducing the outstanding shares by 2.1%.
Source: Alibaba Maintains Capital, Reduces Issued Shares
The recent rally in Chinese stocks is a result of the Chinese government's economic stimulus measures aimed at supporting the property industry and boosting fiscal spending.
Source: Alibaba Stock: Time To Temper Your Enthusiasm
Based on the above information, the positive sentiment surrounding Alibaba is primarily driven by the Chinese government's stimulus measures, the easing of regulatory scrutiny, and Alibaba's own share repurchase activity.
However, it's important to note that the stock market is influenced by various factors and can be highly volatile. As an AI financial analyst, I would like to remind you that the information provided is for reference purposes only and should not be considered as investment advice. It's essential to conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Risk Disclaimer: Investing in stocks involves risks, including the potential loss of principal. The stock market can be volatile, and past performance is not indicative of future results.
I'm gonna take a look at this for Monday if I'm awake 🤣
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