Alibaba Group (BABA)
Trader_VN looks at Alibaba (BABA) for a long buying opportunity
Alibaba Group (BABA) - Technically not the best picture - 40DMA currently still well below the 200DMA - short term however, we see that the stock has closed above the 40DMA and has simultaneously broken its downtrend.
Fundamentally, (BABA) is largely influenced by political risk, and current losses have been attributed to an antitrust crackdown by Chinese authorities.
Irrespective, we feel this company has a cheap valuation with high growth potential. For the near term, we would buy with a TP (Take Profit) of approximately 250 -300 and a stop loss placed on a close below 205.
Comments ()