BABA has been beaten up a lot recently and for good reason with Jack Ma being MIA and the target of the Chinese government. It appears as though the government has given them a pretty hefty slap on the wrist and investors see little to no impact to BABA long term. Big catalyst today and if BABA can continue to fill the major gap on the volume profile we could see $270 again very soon. I'll be looking for those EMA crossovers in the coming days/weeks as well as BABA getting back above the .318 fib.
Price targets for BABA are mostly in the $300 range. I love this play long, especially if they can proceed with the Ant spin off.
Price targets for BABA are mostly in the $300 range. I love this play long, especially if they can proceed with the Ant spin off.