Alibaba (9988:HK): Technically expecting price to break higher
Alibaba (9988:HK): Technically expecting price to break higher as supply exhaustion observed in FFI indicator. Price has also been outperforming HSI since Jul 23.
Fundamentally, price could trade higher on upcoming earnings recovery expectations, equities market optimism and upcoming Double 11 sale.
Earnings report announcement on 16 Nov 23.
1st Target price at 86.55, then 90.25
Stop Price below 79.00.