Alibaba Dividend Playout and 2024 Share Price Projection

The China export giant, Alibaba have seen a decline in price since October 2020 when we hit a 319.32$/share all time high and now we are in a point where the price make no sense.

It makes no sense because the corporation its printing strong financials quarter after quarter, it offer good dividends that make this 71$/share price more apealing for long term investors and the China president visit in the United States marks a point of improved relationships.

From a technical point of view we are bouncing from a major support area that has been established in 2015-2016 after the Alibaba IPO and we broke the trend line that kept the stock price under presure with a formed low at 58. The thing is that I see no reason for another drop and the price action and fibonacci levels indicate that a new uptradend may start.

Alibaba will give dividents to it's shareholders on 18 January '24 for the ones that aquired the stock before 20 December '23 so we may see a little demand in the following days that will push the price above 78.6 fibo extension resistance signaling that the corrective wave two has come to an end. RVI is also strongly pointing up since 16 november indicating that major fund managers and individuals are buying this dip.

In the end it's worth a shot buying here with a tight stop loss just in case we may see madness and we will experience a 14-18% fall for purely technical reasons and greed. But I think it's not the case and our aquired shares will value around $172 in the near future witch is a golden fibonacci level. Trade carefully everyone!