Even though BABA stock' price ongoing bearish bias still persists, however there are some signs that the stock price is bottoming out signaling a possible bullish trend toward 125 by the end of Jun 2023 and possible move toward 245 by Mar 2024.
While supports are seen around 73.2 and 80 however downside risk which is a fall in price toward 58 cannot be ruled out at this volatile environment.
Supports=73.2 and 80 (almost 5 to 15% down from the current price)
Targets=125 , 245 (almost 45% upside from the current price)
Downside risk=58 ([almost 30% downside from the current price)
While supports are seen around 73.2 and 80 however downside risk which is a fall in price toward 58 cannot be ruled out at this volatile environment.
Supports=73.2 and 80 (almost 5 to 15% down from the current price)
Targets=125 , 245 (almost 45% upside from the current price)
Downside risk=58 ([almost 30% downside from the current price)