Alibaba Back Over $100 After Q4 Beat

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Alibaba Group Holding Ltd BABA shares are trading higher by $2.85 at $101.26 in Tuesday's session. The catalyst for the rally is a Q4 EPS beat of $0.27 along with a $344 million beat for revenues.

After higher open, it rallied another $0.27 to $103.19 before reversing course. That marks the highest level for the issue since it peaked on November 2 at $104.10.

Since making that high, profit-takers have come into the issue but so far has found support well ahead of the upper-end of Monday's range ($98.67) as $100.93 stands as the low for the session.

The issue is attempting to post its first close over $100 since November 1, when it ended that session at $101.15.

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