BABA - Alibaba: GenAI To Steer Long-Term Growth Amid Bullish Momentum Buy (Technical Analysis)

2024-07-16 18:05:28 ET

Summary

• This article is follow-up coverage to my previous article published in January.
• BABA stock has gained 7.63% since January 2024, with strong fundamentals and growth potential.
• Technical analysis shows a bullish trend, with indicators pointing to further upside potential.
• Alibaba's strategic market position and adoption of AI technologies position it for sustainable growth.

Investment Thesis

I am bullish on BABA given its strategic market position, which I believe will give it upward trajectory traction. In January 2024, I published a bullish thesis on Alibaba Group Holding Limited ( BABA ) where I reiterated my buy recommendation. In that analysis, I asserted that what had been a bearish trend was reversing, and a bullish momentum was building. Since that coverage, the stock has gained 7.63%, with a total return of 9.04%. My bullish thesis was based on the company’s strong fundamentals such as its growth and profitability, which still looks attractive currently....

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