$Alibaba(BABA)$ It feels like

It feels like things have stabilized. After dropping 13%, it’s starting to climb again. I was initially thinking of waiting for a 20% drop to add more positions. Looking at the constituent stocks of the Hang Seng Tech Index, it seems Alibaba has risen the least. This year, it has been under pressure in many ways, but it’s still the industry leader.

Moreover, southbound funds have been consistently buying, and the company will likely conduct large-scale buybacks if the price falls below 80. So, 80 is probably the bottom—it’s just a matter of how long it’ll take to grind through.

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