$BABA - "OPPORTUNITY"

7 dic 2020

BABA

BABA on a rollercoaster ride with several negative catalysts getting priced-in causing a significant pullback. Down about 17% from its ATH (as of the time of this writing). Waiting for $265 validation of support, watching two other support levels at $257, all the way down to $240. A breakout of $275 resistance is critical to have a chance to test $280 - $300.

Undervalued company, in my opinion, with a significant competitive advantage in China and its growing economy, Ali Cloud is underappreciated and brings a lot of growth potential in the future. A positive catalyst to also watch is the potential ANT Group IPO along with their successful compliance with S. 945 "Holding Foreign Companies Accountable Act".

LONG all the way. Cheers!
-Kaswrp