{"id":47015,"date":"2025-02-10T13:09:41","date_gmt":"2025-02-10T13:09:41","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/alibaba-stock-price-to-double-from-here-veteran-trader-says\/"},"modified":"2025-02-10T13:09:41","modified_gmt":"2025-02-10T13:09:41","slug":"alibaba-stock-price-to-double-from-here-veteran-trader-says","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/alibaba-stock-price-to-double-from-here-veteran-trader-says\/","title":{"rendered":"Alibaba stock price to double from here, veteran trader says"},"content":{"rendered":"

(Originally posted on : Invezz )<\/b>
\n<\/p>\n

<\/div>\n

Alibaba stock price remains in a three-year consolidation. It has remained between the support and resistance levels at $56.50 and $121.37 since 2022 even as its biggest competitors in China like JD.com and Tencent have surged. Still, analysts are optimistic that the BABA stock price will go vertical soon. <\/p>\n

Peter Brandt is highly bullish on Alibaba stock price<\/h2>\n

Wall Street analysts are optmistic that the BABA stock price<\/a> has more room to go. The average forecast is that the stock will jump to $120, up from the current $103. Some of the most overweight analysts on Alibaba are from companies like Barclays, Baird, and JPMorgan. <\/p>\n

Bank of America, Benchmark, and Jefferies have a buy rating. Most of these analysts believe that Alibaba share price is a big bargain and that it will bounce back in the coming years. They cite its strong market share across multiple sectors in China and the ongoing share repurchases that have led to a big jump in its earnings per share. <\/p>\n

Peter Brandt, a veteran trader and author, has maintained a highly bullish view of the BABA stock price, noting that it may double from here. In an X post, he said that the stock was one of the promising charts he had seen in a long time, and that it may surge to $200 next. He pointed to an ascending triangle pattern that has been forming in the past few months.<\/p>\n

\n
\n
\n
<\/p>\n
\"Peter<\/div>\n
\n
<\/div>\n<\/div>\n

<\/a><\/p>\n

<\/p>\n
Peter Brandt<\/span><\/div>\n
<\/div>\n

<\/a><\/p>\n

@PeterLBrandt<\/span><\/a><\/p>\n
\u00b7<\/span>Follow<\/a><\/div>\n<\/div>\n<\/div>\n

<\/a><\/div>\n

The chart of <\/span>$BABA<\/a> is one of the most promising charts I have seen in a long time. This is a stock I am already invested in. I think $200 is the next stop
\nEarnings forthcoming though<\/span><\/p>\n

\n
<\/p>\n
<\/div>\n

\"Image\"<\/a><\/p>\n

<\/div>\n

\"Image\"<\/a><\/div>\n<\/div>\n

12:59 AM \u00b7 Feb 9, 2025<\/a><\/a><\/div>\n
<\/p>\n
<\/div>\n

2.1K<\/span><\/a><\/p>\n

<\/div>\n

Reply<\/span><\/a>