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 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:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.