- Revenue: 200.69 billion yuan ($31.4 billion) vs. 204.93 billion yuan estimated, a 29% year-on-year rise.
Alibaba (NYSE:BABA) has been an increasingly tricky stock to deal with this year. On one hand, we have a thousand and one reasons to buy into the stock (not as much FOMO, Charlie Munger etc.) but on the other hand, the market sentiment just doesn’t seem to be bullish.
Unfortunately, their Q3 earnings report last night greatly disappointed investors and I’ld say that at present, the bear rally is likely to continue given how all factors seem to be working against the company at present.
In this article, I’ll be doing a deep dive into the technical analysis of Alibaba at this crucial support level of $140-$142 and provide some commentary on the fundamentals of their earnings as well as their price action.
Lowered expectations, missed revenue, economic slowdown
The following key figures summarise BABA’s Q3 results,