The analyst views Alibaba's ongoing share buyback as a bullish signal and implies a long stance despite recent price gains.
Alibaba's management is buying back shares, which the analyst interprets as a sign that they believe the stock is cheap, constituting a bullish signal despite recent price increases.
$BABA in spite of its +20% move off its low, $BABA continues to buy back shares. When the company or CEO is buying, along with TLI Coupled with Cathie Wood selling This is the trifecta bullish signal.
| Horizon | Raw move | vs SPY |
|---|---|---|
| 1 day | +1.1% | +0.6% |
| 1 week | +5.7% | +5.8% |
| 1 month | — | — |
| 3 months | — | — |
| 6 months | — | — |