SaxoTV

Berger: Alibaba "scares the pants off" the bears

391 views
May 18, 2015 alibaba, alibaba china, alibaba earnings, alibaba going public, alibaba group, alibaba holdings, alibaba investment, alibaba ipo, alibaba logistics, alibaba market share, alibaba new york, alibaba public offering, alibaba quarterly earnings, alibaba quarterly report, alibaba results, alibaba revenue, alibaba shares, alibaba shipping, alibaba stock, alibaba stock price, alibaba stocks, alibaba valuation, buy alibaba, china, china deflation, china economy, china economy growth, china equity market, china gdp, china growth, china manufacturing, china outlook, china politics, china rates, china slowdown, china stock market, chinese, chinese economy, chinese equities, chinese gdp, chinese growth, equities, equities prices, equities saxo, equities strength, equities trade, equities trading, equity, equity bubble, equity index, equity market, equity market 2015, equity markets, equity portfolio, equity portfolios, equity research, equity rise, equity strategy, equity trading, equity us, investing, investment, investment strategy, jack ma, saxo, saxo bank, saxo bank equities, saxo bank group, saxo bank saxo tv, saxo bank trading, saxo bank trading floor, saxo bank tradingfloor.com, saxo bank tv, saxo traders, saxo trading, saxo tv, saxo tv saxo bank, saxo tv trades, saxo tv trading, saxo tv trading floor, saxo tv tradingfloor, saxo tv tradingfloor.com, saxobank, saxotrader, saxotv, serge berger, serge berger saxo, serge berger tradingfloor.com, shares, stock, stock market, stock markets, stock trading, stocks, stocks markets, stocks to watch, trade, trade alibaba, trade idea, trade ideas, trade view, trade views, trader, trader idea, traders, traders tale, traders tale saxo tv, trading, trading floor, trading floor saxo tv, trading idea, trading risks, trading strategy, trading tips, tradingfloor, tradingfloor saxo bank, tradingfloor saxo tv, tradingfloor.com, tradingfloor.com insights, tradingfloor.com saxo tv, tradingfloor.com trade ideas, tradingfloorcom

Alibaba, the Chinese e-commerce retailer, reported a 45% increase in revenue on May 7th. With more than USD 2.8 billion in revenue the bulls returned to the stock, according to Serge Berger, better known as The Steady Trader. After reporting earnings the stock gapped higher above the key resistance level of USD 86, which Serge says “scared the pants off” the bears. Alibaba had lost 33% of its value since its peak in November and was trading below the USD 80 support level ahead of its most recent earnings. Additional concerns surrounding China’s slowing growth and the sale of counterfeit goods had pressured the stock.

 

Serge however believes that the stock “looks sound” from a long-term technical perspective. He is looking to buy shares of Alibaba around USD 89 with a price target of USD 93. A stop can be placed at USD 86. 

Join the conversation below to be a part of the social trading experience.

Non-independent investment research disclaimer

Full disclaimer