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....
Read the full article on Seeking Alpha
For further details see:
Alibaba: GenAI To Steer Long-Term Growth Amid Bullish Momentum, Buy (Technical Analysis)