Alibaba Group Holding Limited is scheduled to report earnings data for the fiscal quarter ending in June 2019 this Thursday before the market close. The company is anticipated to deliver a very strong report, which investors and shareholders expect to boost the share price of Alibaba.
Market analysts have reached a consensus in regards to the forecasted EPS performance, which is now projected to reach $1.13. If this is realised, then Alibaba would have performed markedly better in 2019 when compared to the $0.66 earnings per share for the same quarter last year. Moreover, such results would also substantially outperform the reported EPS for the previous quarter of 2019, which have reached $0.88.
The share price is currently trading at $157.10, which is just above the fundamentally important support level of 154.71. The same level is also a major Fibonacci retracement level of 61.8 per cent.