Rakuten Trade Research Reports

Foreign Equities (HK): ALIBABA GROUP HOLDING LTD - Indicators.

Publish date: Tue, 27 Feb 2024, 11:48 AM
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Alibaba Group is poised for further upward movements after rebounding to breach the HK$73.35 resistance in the past few sessions. With the 20-day and 50- day EMAs converging thus confirming a bullish crossover soon, the bullish momentum may prevail now. We expect the rising momentum to steer the stock higher and test the next level of resistance in the near term.


Net profit is expected to grow at a CAGR of 7% for the next 3 years with strong net margins higher than 15%.

Source: Rakuten Research - 27 Feb 2024

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