- The words full of a lack of investor support coming out of the CEO's mouth provides a negative sentiment for investors.
Macroeconomic Data to Watch Closely on October 31, 2015; Saturday:
-- Sat, Oct 31 @ 9:00pm, China's Manufacturing PMI comes out. Expectations are that it reaches 50 over 49.8 previously. If it is not greater than 50, then investors can interpret this that Alibaba is not only not a good investment, but confirmation that the Chinese economy is still not growing as fast as before.
News:
- "Citi Downgrades Weibo On Alibaba Uncertainty"
Targets:
Given the Weekly and 4 hour divergence there is a probability that BABA shares will fall to $74.50, $70 and ultimately $53.
Others Thoughts and Considerations Fueling Short Position:
BABA already went up four weeks straight without a small retracement.
BABA reached 61.8% Fib resistance
BABA reached an area of weekly resistance.
BABA earning already came out.
Conclusion:
So, it is only natural that a retracement probably will occur tomorrow or next week.
Macroeconomic Data to Watch Closely on October 31, 2015; Saturday:
-- Sat, Oct 31 @ 9:00pm, China's Manufacturing PMI comes out. Expectations are that it reaches 50 over 49.8 previously. If it is not greater than 50, then investors can interpret this that Alibaba is not only not a good investment, but confirmation that the Chinese economy is still not growing as fast as before.
News:
- "Citi Downgrades Weibo On Alibaba Uncertainty"
Targets:
Given the Weekly and 4 hour divergence there is a probability that BABA shares will fall to $74.50, $70 and ultimately $53.
Others Thoughts and Considerations Fueling Short Position:
BABA already went up four weeks straight without a small retracement.
BABA reached 61.8% Fib resistance
BABA reached an area of weekly resistance.
BABA earning already came out.
Conclusion:
So, it is only natural that a retracement probably will occur tomorrow or next week.
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
