Alibaba: A Journey Back to Greatness?

A Look at BABA’s Resurgence

Since its monumental high of $300 in October 2020, Alibaba Group Holdings Ltd. (BABA) has experienced a prolonged downtrend, culminating in a key low around $58. Our analysis indicates that this low may signify the conclusion of a major corrective phase, paving the way for a potential bullish revival.

Targets and Scenarios

From $58, we foresee an initial rebound targeting $180. Should momentum persist, BABA holds the potential to break past $180 and aim for a new all-time high near $300. However, a breach of the $82 level would invalidate the bullish outlook and suggest further downside risks.

Outlook

Alibaba stands at a critical juncture. With its immense growth potential, this stock could represent a compelling opportunity for long-term investors. Still, caution remains paramount, with key levels to monitor closely as the market defines its next moves.