As an escalated investigation target Alibaba, the stock tumbled in HK stock exchange early this morning(Beijing Time) and It gapped down USD28 after market open.
So how low can it go? I had a bearish view on the stock as the investigation just kicked off. It's a sign that China is tightening regulations on local internet giant. So more bad news may come in the future.
Technically, 200 is an integer number with a nice structure. It's another 10% down based on the current price. From the chart analysis, I would pay attention to 200.
So, is this the end of Alibaba? I don't think so.
1. Alibaba is everywhere in China. Alipay, Tmall or Taobao are must-have apps for Chinese people. We get so used to it.
2. Alibaba is the model internet company in China and creates a lot of jobs.
So how low can it go? I had a bearish view on the stock as the investigation just kicked off. It's a sign that China is tightening regulations on local internet giant. So more bad news may come in the future.
Technically, 200 is an integer number with a nice structure. It's another 10% down based on the current price. From the chart analysis, I would pay attention to 200.
So, is this the end of Alibaba? I don't think so.
1. Alibaba is everywhere in China. Alipay, Tmall or Taobao are must-have apps for Chinese people. We get so used to it.
2. Alibaba is the model internet company in China and creates a lot of jobs.
Comment:
It didn't touch the 200 level and the buddy who left the message was correct. price bounced back from 210. I'd like learn from you guys. It made me feel great. Feel free to share your thoughts.
plan your trade and trade your plan
