Resistance

Billion

<ul class="list-ic vertical">
 <li><span>1</span> <a>Alibaba stock price fell 0.07% in the last intraday session and closed at $82.48.&nbsp;</a></li>
 <li><span>2</span> <a>The company is yet to announce quarterly earnings on Friday, 3rd November.&nbsp;</a></li>
 <li><span>3</span> <a>BABA stock has been facing selling pressure and struggling to withhold near the support in recent sessions.&nbsp;&nbsp;</a></li>
</ul>
<p>Alibaba stock price has been under sellers’ control in the short term and struggled to withhold support in the recent sessions. The stock price hovers below the key EMAs of 50-day and 200-day signaling the dominance of bears.&nbsp;</p>
<p>The recent sessions have experienced a bounceback in the price from a round level of $80. The bulls are attempting to defend an important support and surged the price back near the $82 level.&nbsp;</p>
<p>Moreover, the Chinese economic slowdown has also affected the Alibaba group and dragged the price to lower levels. Investors turned jittery in the past month courtesy of concerns about China’s economy. Additionally, the rising geopolitical tensions in the Middle East are impacting the global world economies.&nbsp;</p>
<p>Despite several factors taken into account, the investors are expecting good quarterly results. The company is all set to announce its third quarterly results on Friday, 3rd November. A good quarterly result might be welcomed by the investors and the stock price may show recovery thereafter.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-alibaba-co-founder-s-speech-triggers-recovery-in-the-stock-strong"><strong>Alibaba Co-Founder’s Speech Triggers Recovery in the Stock</strong></h2>
<p>Meanwhile, Alibaba co-founder Joseph C. Tsai’s recent speech about the company’s vision and future goals has been welcomed by investors. Joseph Tsai emphasized the significant role of Alibaba Cloud in the operations of Chinese tech firms and the country’s AI development.&nbsp;</p>
<p>At the Apsara Conference in Hangzhou, he added that 80% of China’s tech companies and half of the large AI language model companies operate on Alibaba cloud. He also expressed the company’s ambition to be the most open cloud in the AI era.</p>
<p>The price has recovered nearly 5% in the recent sessions signaling optimistic days ahead. The earning days are near which may have a major impact on the price and it may reverse then.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-alibaba-quarterly-earnings-ahead-what-to-expect-strong"><strong>Alibaba Quarterly Earnings Ahead: What To Expect?</strong></h2>
<p>The price sentiments are turning optimistic as the quarterly result day is nearing which is a good sign for the recovery. The price made a comeback after slipping below the $80 level and has maintained above it.&nbsp;</p>
<p>The analysts are expecting the company to register a revenue of $30.80 Billion in the current quarter. On the other hand, the analysts are expecting earnings of $2.097 per share. An outperforming result will surely attract investors and help BABA stock price to recover.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-alibaba-stock-price-prediction-2023-strong"><strong>Alibaba Stock Price Prediction 2023</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/CnQPLlr0AhjYVjbs8KDDvUVpJ5xTX11na0P7PRA5wcQ2c8uSKjNbiFbqdVvGyD1ZC-QNlW4v3azuZWgqSNAnkcEMhzgsOZV2Jq0DlKdTS0tobhWCybNaHaA4enryzF109y-1vUxNHThecxqEI8gxCrw" alt="Alibaba Stock Price Prediction: Optimistic Investors Target $100">
  <figcaption class="wp-element-caption">
   Source: Alibaba&nbsp; 1D. NASDAQ By TradingView
  </figcaption>
 </figure>
</div>
<p>BABA stock price currently trades at $82.48 with a loss of 0.07% in the last session. The price prediction showcases that the bulls are attempting to recover after defending the $80 level. The bears are losing momentum which might be a good opportunity for the bulls to take control.&nbsp;</p>
<p>However, the current trend in the short term is uncertain due to the upcoming quarterly results. The price may decide a clear trend after the disclosure of the results.&nbsp;</p>
<p>As per the price action, the bulls have started dominating from the support zones which may turn the price trajectory upwards. However, it requires the BABA price to be sustained at the upper levels. The price may reach $100 by the end of 2023 if reversed from the current market price.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-alibaba-stock-price-prediction-2024-strong"><strong>Alibaba Stock Price Prediction 2024</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/fnR-BS9-8T8G17lND3TaHeIAAFjVCqpZNWer56Tl5J0wcw7kg3ddACfF8kC__bKwLIrhriynRmhOGruKxgDlbAOXJxDtIl0spqTu_t5F6T3ly-bv5lQZ8LFq6KqB5gNPDp1nbouqPGEoRwqakS3_3lU" alt="Alibaba Stock Price Prediction: Optimistic Investors Target $100">
  <figcaption class="wp-element-caption">
   Source: tradingview.com
  </figcaption>
 </figure>
</div>
<p>Analysts offering yearly price forecasts for <a href="https://www.thecoinrepublic.com/2023/10/29/paypal-stock-hits-multi-year-low-pypl-stock-downfall-continues/" rel="noopener noreferrer nofollow">Alibaba stock</a> have a bullish outlook about the price trend and see a potential of over 126.7% on the upside. The price could reach a maximum of $187 by the end of 2024. On the other hand, the minimum estimates of the analysts hope for a drawdown of 4.55% which could drag the price to a low of $78.73.&nbsp;</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3>
<p>Alibaba stock price has been showing signs of recovery in recent sessions. The price has bounced back from the $80 level and has maintained above it. The earning days are near which may affect the price trend. The investors are hoping for positive quarterly results which also may help the price to recover. The analysts are bullish over the stock price in the coming years and expect the price to reach $187 by the end of 2024.&nbsp;</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support Levels:</strong> $78.79 and $74.70</li>
 <li><strong>Resistance Levels:</strong> $84.51 and $88.54</li>
</ul>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Alibaba Stock Price Prediction: Optimistic Investors Target $100

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Thecoinrepublic.com

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