NYSE:BABA Alibaba Parallel Down Trend continues, below the 50 day moving average. BABA needs to consolidate and break the down trend before it is safe to inter a long position.
the downtrend is technical, the current support level is fundamental.. its not going lower than $60-$70 and likely we have already just begun reversal
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This is why we use charts, If BABA is still in a downtrend there is no reason to buy it just because you have an opinion or because BABA is very cheap.