Lines drawn represent the top wick of the high before the Drop at the end of 2018. Lower line represents possible resistance from that same time period based on top of full body candles and multiple rejections from that price point. If BABA continues to fall, one of these could provide the support need to prevent any further drops.
A worsening coronavirus could either help or hurt BABA. Negatively by dropping Chinese stocks due to fear. Positively seeing as they are the Amazon of China. People may rather order clothes, shoes, certain non perishable foods things like that rather than go out. Also if they live in cities that are pretty much quarantined and don't have access to certain companies. The internet may be used more for entertainment in those areas too seeing as all kinds of internet cafes, theaters and entertainment centers were shut down. BABA has multiple things in place for help with that under their Digital Media and Entertainment Group.
A worsening coronavirus could either help or hurt BABA. Negatively by dropping Chinese stocks due to fear. Positively seeing as they are the Amazon of China. People may rather order clothes, shoes, certain non perishable foods things like that rather than go out. Also if they live in cities that are pretty much quarantined and don't have access to certain companies. The internet may be used more for entertainment in those areas too seeing as all kinds of internet cafes, theaters and entertainment centers were shut down. BABA has multiple things in place for help with that under their Digital Media and Entertainment Group.
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