Aibaba is 18PE and grows 30-40% a year. It's the most oversold it has ever been. Moreover China is signaling they are open to audit cooperation. Plus 15B in buybacks this year. Buy growth when growth cheep
It does indeed looks like a buying opportunity, but don’t you think that the new Chinese government actions (with regards to the income of the rich people) will make this stock go down even further?
rubindr
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@Winglesswinter I added more. Its a long term trade. 7x FCF. Same price apple was in 2007
Natestradamus
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stock has never been this oversold on the daily or weekly in its existence. 4hr is crushed with RSI in the teens and we have hourly bull divergence now around a very attractive price level. Great long term entry here like you said