I am not surpise BABA and the other chinese stocks continue to get hit. Based on the RSI on the monthly timeframe, it wasn't even close to be oversold for the past many months until recently it starts nearing the 20 RSI. I bought in some BABA but the question I am asking myself now:
Based on technical it's about time BABA bounce up but we never know if this will continue down or not. If US stock market is to crash in the future maybe we will see more people reallocate into the oversold chinese stock?
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments