theKid

price action is overwhelmingly bearish to me

NYSE:BABA   Alibaba Group Holdings Ltd
58 5 0
It is working its way into that wedge that first big candle wick had made
breakout?
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I agree its just correlating with everything else. BUT I think there is a great contrarian play here because of the bearish sentiment towards its IPO day
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For those who hold the stock, the worst thing to do is to sell. This is a short term sell off until mid of october.
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BABA is dropping like all the stocks right now. It's a global phenomena that is not related to its intrinsec value. Short term investors are worried about ebola, hong kong, china economy slow down, interest rate increase, etc.. It's a BUYING opportunity for BABA and other good stocks in genereal. This company is strong and has good numbers.
+1 Reply
I just see this exploding to the upside because of the shorts it has pulled in
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