Alibaba (BABA) Update - 1/5/2023

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Alibaba Rose 13% yesterday amid news of Chinese regulators' approval to raise $1.5 B in its consumer finance unit. Of course, this is positive news for this stock.

The rally will likely continue until the stock breaks its resistance level of $105/share in the next couple of months before it tries to fill the gap caused by yesterday's rally.

Ps. This is not an investment Advice.

Penafian

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