Hamzei Analytics Founder Says Alibaba Is In A 'Bounce Zone'
Fari Hamzei was recently a guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick.
Hamzei Analytics Founder Fari Hamzei discussed Alibaba Group Holding Ltd (NYSE: BABA) on the show.
Hamzei said the stock was in a “bounce zone” and that if the company misses on earnings the stock would “crater.”
If the earnings are in line or beat expectations, Hamzei said the stock should jump up to “at least $83.”
Hamzei reiterated, however, that if the company misses significantly, then the stock would experience a “blood bath.”
Alibaba reports Q4 results Thursday before the open and closed Wednesday at $80, up 0.58 percent.
Listen to the show here:
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