Alibaba Group Holding Limited (NYSE:BABA) shares climbed Tuesday as investors returned to large-cap technology stocks amid improving risk sentiment across the broader market. The Nasdaq Composite gained 0.37%, while the S&P 500 rose 0.18%.

Tech-Led Market Strength Supports Alibaba

Alibaba's advance appears to be driven primarily by renewed interest in growth and technology stocks rather than any company-specific catalyst.

The stock has attracted buyers after spending several months below key long-term trend levels. Investors appear encouraged by Alibaba's ability to hold near-term support levels while attempting to recover toward previous resistance zones.

Market breadth also remained positive, with advancing stocks outnumbering decliners, supporting momentum in select technology names.

Manulife Hong Kong, Alibaba Cloud Expand AI Partnership

In other news, Manulife Hong Kong has signed a strategic partnership with Alibaba Cloud to accelerate the development and deployment of artificial intelligence across its insurance business, the companies announced Tuesday.

The collaboration aims to advance responsible AI innovation while supporting Hong Kong's position as a regional AI hub. It builds on Manulife's broader strategy to become an AI-powered organization and expands an existing technology relationship between the two companies.

Under a memorandum of understanding, Manulife Hong Kong and Alibaba Cloud will explore creating a joint AI hub to develop next-generation AI applications and industry-specific use cases.

The partnership will focus on enhancing digital customer journeys, strengthening fraud detection capabilities, improving service personalization and increasing operational efficiency.

The companies also plan to evaluate emerging technologies and potential co-development and go-to-market opportunities, subject to regulatory approvals and future agreements.

Technical Picture Shows Recovery Effort

Alibaba is trading about 2% above its 50-day simple moving average of $131.08, signaling improving short-term momentum. However, the stock remains 6.2% below its 100-day moving average of $142.61 and 10.6% below its 200-day moving average of $149.62.

The 20-day moving average remains above the 50-day moving average, a constructive short-term signal. However, the longer-term bearish crossover that occurred in April, when the 50-day moving average fell below the 200-day moving average, remains in place.

Momentum indicators remain mixed. The Moving Average Convergence Divergence (MACD) indicator is below its signal line, suggesting bullish momentum has yet to fully strengthen despite the recent rally.

Key resistance is near $144, which aligns closely with the 100-day moving average. Support is around $129, near the 50-day moving average.

Zooming out, the stock is up 16.53% over the past 12 months, but it's still well off the $192.67 52-week high and above the $103.71 52-week low.

Earnings Outlook Remains in Focus

Alibaba's next expected earnings report is scheduled for Aug. 28, 2026. Analysts currently expect earnings per share of $1.96 on revenue of $38.72 billion, compared with revenue of $34.57 billion in the year-ago period.

The stock carries a consensus Buy rating, with an average analyst price forecast of $190.86. Recent forecast increases have come from analysts at JPMorgan, Barclays, and Susquehanna.

The Funds Most Invested In Alibaba

• Avantis Emerging Markets Equity ETF (NYSE:AVEM): 1.12% Weight
• SPDR NYSE Technology ETF (NYSE:XNTK): 3.53% Weight
• Nomura Focused Emerging Markets Equity ETF (NASDAQ:EMEQ): 2.85% Weight

BABA Stock Price Activity: Alibaba shares were up 6.63% at $133.72 at the time of publication on Tuesday, according to market data.