I recently sold my stake in BABA in the anticipation the price will trend in the same direction of the MACD. This could take weeks/months to occur and I believe near the end of the downtrend in price it will be a good time to buy BABA. Short term bearish
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The stock has been playing out exactly like I have anticipated and has closed below the 76% fib retracement for the day. If the stock does not bounce tomorrow and close the week above the 76% retracment then it can fall into the 150's or 140's, I have this belief because on the run up starting at the beginning of 2017 there was zero resistance in the stock and the next fib retracement is at $149. Also with the political turmoil it can drop at any given tweet. 150 would be a good buy price.
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Stock failed to close above the 76% retracement and the selling is continuing. The political issues is taking its toll on the stock and it will continue to decline on any US vs China related news. Even if positive news comes out the stock is not looking good technically. 150 price trend intact