$Alibaba(BABA)$Will Ali Baba magic it's Way out of this quagmire or be sent to endless pit of doom today? However the technical seems to favour the latter scenario.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -15.90% during the next 3 months.
This together with the greater exodus of theintuition investors should raise alarm bells but fortune favours the bold and I am already holding that's why I have this position. Otherwise I would not advise entering now.
Our media doesn’t cover AliCloud enough. I haven’t seen many articles that said Alibaba started their first cloud data center in Thailand, they’ve opened their 3rd data center in Germany, and now they announced a JV in Saudi Arabia. They possibly will Hike the buybacks even more Soon, prepare for some nice ownership increase WITHOUT DOING ANYTHING . All of this is huge news for cloud.Rally this week. BABA is trading at less than 2x revenue, hugely profitable, China is openly supporting their tech companies and country is coming out of lockdown. Expecting a good Q2 and a gapper. All bad news has already been priced in.so there might yet be a silver lining later during earnings.
Good luck everyone
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