Alibaba Group Holding Ltd.
BABA
reported fiscal first-quarter net income of $1.31 billion.
On a per-share basis, the Hong Kong-based company said it had profit of 50 cents. Earnings, adjusted for one-time gains and costs, were $1.22 per share.
The results just fell short of expectations.
The online retailer posted revenue of $12.23 billion in the period, which also fell short of Street forecasts. Analysts expected $12.25 billion.
Alibaba shares have increased 3 percent since the beginning of the year. The stock has climbed nearly 2 percent in the last 12 months.
But there is another side, since the stock price ranges from 165.00$ to 210.00$ from the beginning of the year and is now trading near the support line, there is growth potential to upper line of the channel at 210.00$. And if the stock can breakout, we coul expect it to reach 235.00$ level.
BABA
reported fiscal first-quarter net income of $1.31 billion. On a per-share basis, the Hong Kong-based company said it had profit of 50 cents. Earnings, adjusted for one-time gains and costs, were $1.22 per share.
The results just fell short of expectations.
The online retailer posted revenue of $12.23 billion in the period, which also fell short of Street forecasts. Analysts expected $12.25 billion.
Alibaba shares have increased 3 percent since the beginning of the year. The stock has climbed nearly 2 percent in the last 12 months.
But there is another side, since the stock price ranges from 165.00$ to 210.00$ from the beginning of the year and is now trading near the support line, there is growth potential to upper line of the channel at 210.00$. And if the stock can breakout, we coul expect it to reach 235.00$ level.
Trade active
Comment:
LIKES AND COMMENTS ARE WELCOME!
Trade active:
Stock bounced on support, opening second position.
