ALIBABA Q4 PROFIT TOPS EXPECTATIONS; STOCKS FALL

Alibaba is currently trading at 201.49-lower by 5.03% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 0.30%. The stock has erased all of its earlier gains and turned negative after the opening bell.

The company reported its fourth-quarter results before the market open on Friday. The Chinese e-commerce giant benefited from a rise in online shopping due to the pneumonia-causing virus outbreak. The company generated an adjusted EPS of 9.20 yuan for the fourth quarter. The EPS was above the market expectation of 6.10 yuan. Alibaba brought in 114.31 billion yuan in revenue for the fourth quarter. The revenue was also above the consensus estimates of 107.46 billion yuan.

Alibaba exceeded $1 trillion in gross merchandise volume for the first time in its fiscal year ending in March. The Chinese e-commerce giant’s core commerce business rose about 19% to $13.16 billion in the quarter ended 31st March. Stocks of Alibaba have fallen about 5% so far this year.

On the technical front, the current price is below the MA5. The current price is below the middle line of the Bollinger Bands and is heading downwards. The RSI is currently at 47.02% and suggests that the market can move in the downward direction.

Overall Bias is Negative and short-term trades can be initiated with below mentioned Stop Loss and Profit targets.

 

TRADE SUGGESTION- LIMIT SELL AT 201.80 TAKE PROFIT AT 199.40 STOP LOSS AT 203.00

6 Comments

commenter

Delbert

May 22, 2020  /  

I’m excited to discover this web site. I need to to thank you for ones time for this fantastic
read!! I definitely savored every bit of it and i also have you saved to fav to see new information on your web site.

my web page website hosting services

commenter

Sima

May 22, 2020  /  

Hi, just wanted to mention, I enjoyed this blog post.
It was funny. Keep on posting!

Feel free to surf to my web blog; website hosting companies

commenter

Carri

May 22, 2020  /  

Right here is the perfect website for anyone who wants to find
out about this topic. You understand a whole lot its almost hard to argue
with you (not that I personally will need to…HaHa).

You definitely put a brand new spin on a subject that’s been discussed for many
years. Great stuff, just excellent!

My blog :: cheap flights

commenter

Betty

May 22, 2020  /  

After I originally left a comment I appear to have clicked
the -Notify me when new comments are added- checkbox and now every time a comment is added I recieve 4 emails with
the same comment. Is there a way you can remove me from that
service? Many thanks! cheap flights 32hvAj4

commenter

Stewart

May 22, 2020  /  

It is not my first time to pay a quick visit this site,
i am browsing this web site dailly and get good facts from here every day.
3gqLYTc cheap flights

commenter

Leslie

May 22, 2020  /  

Hello Dear, are you truly visiting this web page regularly,
if so then you will definitely get fastidious know-how.

My homepage … cheap flights

Leave a Reply

Your email address will not be published.