Alibaba's stock jumps 8% on Jack Ma's first appearance in 3 months

Alibaba (BABA.US) stock jumped more than 8% after Jack Ma, the billionaire founder of the Chinese e-commerce giant, made his first public appearance since October following questions about his whereabouts. Jack Ma spoke to 100 rural teachers through a video call. The recording of the conversation was first released by Tianmu News, a portal backed by the Zhejiang government and was verified by an Alibaba spokesman. Zhejiang province is home to Hangzhou, the city where Alibaba is based.

Alibaba (BABA.US) - today's news helped to erase some of the losses that have piled up since Ant Group's IPO was pulled. Yesterday buyers managed to break above the upper limit of the descending channel and today's stock launched session with a massive bullish price gap. Currently price is testing major resistance at $265.50. If the current sentiment prevails, then upward move could be extended to the $281.43 level. On the other hand, failure to break higher could see the stock pull back towards support at $246.83. Source: xStation5

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