I'm not going to lie here. I'm surprised that the price of BABA keeps going lower. It's already a no-brainer for me now at 69 $ and I'm adding to my long-term hold position, but if it retest 60 $, it will be an even more screaming buy for me as it will retest the absolute bottom again.
BABA is a very profitable company with a strong fundamentals and not buying at these prices is a crime. DCAing into BABA stock is my strategy for the next weeks. All fib levels that are shown on the chart may be acting as a resistance but my final long-term target is 256 $.
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BABA ready to fly. Long-term still good buy, but not as good as on 19 of April when we shared this trading idea.
Excellent analysis. I do think he can go much higher than 256 in the long-term though. 300 would be a good three year target. Long-term Target is likely exponential.
vf_investment
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@kevinbartley81, Yes. I think it will go higher than 300 $ but 256 is a level where we're expecting profit taking and some sort of correction / bigger pullback!