Beware, Alibaba Group Holding Ltd. is hungry for markets. The company is now the third-largest public cloud provider after Amazon and Microsoft Corp. Its market cap is growing really fast, up 61% in the past 12 months compared to Amazon's 67%.

As if that wasn't enough, Alibaba is currently looking to expand tremendously, investing in growth aggressively. The company next reports earnings on May 5, with a profit of 71 cents per share expected on the revenue of $9.08 billion. We're excited to see what happens.

Alibaba is surrounded by competitors, but surprisingly, competition seems to be working for, not against the company that finds pure motivation in it to explore and conquer more and more niches.

Alibaba Share CFD Price

Uptrend Consolidation

Source: Admiral Markets MT5 with MT5 add-on, #BABA H8 chart, April 2018

Alibaba share CFD price (BABA) is currently in a consolidation period, but soon we might see a bounce in dominant trend direction. At this point, the price is very close to the point of confluence - the POC zone, so we might expect a bounce soon as Friday may be a profit-taking day. The POC zone is the zone where the price could bounce: 163.24-166.60. However, if the price closes above the M L3 -176.34, that could also be a trigger for a continuation up. Target is M H4 197.85. Only a break below M L5 156.24 could jeopardize bullish dominance. Buying the dip is still the way to go.

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