May 16 Chart of the Day - BABA
Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988, "Alibaba" or "Alibaba Group") will report its unaudited financial results for the quarter and fiscal year ended March 31, 2023 before the U.S. market opens on Thursday, May 18, 2023, and will hold a conference call to discuss the financial results at 7:30 a.m. U.S. Eastern Time (7:30 p.m. Hong Kong Time) the same day.
Currently trading in the high $80s the stock price is down significantly from its $319.32 October 2021 highs.
Price is off its sub $60 October 2022 low and based on recent option activities the market is implying a $5.98 move in either direction by the end of this week 5/19/2023.
For the last 8 quarters price has advanced 50% of the time and declined 50% of the time during earnings week.
Some traders are speculating on the direction with heavy options action in both directions while others are simply waiting and reacting to price after the dust settles.
Which camp are you in? We'd like to hear from you in the comments sections.
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