NYSE:BABA   Alibaba Group Holdings Ltd.
✅ALIBABA is trading in a downtrend
Following the company's falling out of favor
With the Chinese Government
And fueled further by the Coming Evergrande collapse
That will drag China down with it
Today, the stock gapped and fell even lower
On the earnings news
However, a massive support level is ahead
At around 128$ per share, and I think
This might be a great local long
With the upside limited by the falling resistance
Also, with the stock trading with 60% discount
It might be a good place to start adding BABA to your long term portfolio
As it is clear that whatever economic storm is coming
Alibaba will be the one candidate to survive it

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