BABA is a fundamentally sound business, and if the stock drops another 20 to 30 percent, I will still hold my position, and most likely add more.
From the technical point of view, the chart indicating we are nearing the bottom at this level.
What we are seen right now is a very healthy correction in the stock. Looking at the chart, I see we had a solid update tend, and now we are seen that healthy correction.
I implanted the Elliott Wave and is clear the chart showing 5 uptrend waves followed by a corrective wave of (ABC). The stock could drop another 6 percent of so. My next target is $170. Today, I added more to my position, and I’ll add even more if we hit the $170 level.
Do not panic! “ be fearful when others are greedy, and greedy when others are fearful.”
From the technical point of view, the chart indicating we are nearing the bottom at this level.
What we are seen right now is a very healthy correction in the stock. Looking at the chart, I see we had a solid update tend, and now we are seen that healthy correction.
I implanted the Elliott Wave and is clear the chart showing 5 uptrend waves followed by a corrective wave of (ABC). The stock could drop another 6 percent of so. My next target is $170. Today, I added more to my position, and I’ll add even more if we hit the $170 level.
Do not panic! “ be fearful when others are greedy, and greedy when others are fearful.”