Alibaba and its affiliates are in for the long game. All their actions are geared towards development and growth of the company. The mgmt isn't concerned with the macro situation because they are very focused on their objectives and this shows how determined they want to move the company forward past the current speed bump.
Ant to Buy Back Shares at 70% Lower Valuation Than at IPO
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In analysing resistance, we note an important area.
The resistance area ranges from 18.36 to 18.36. This area is made up of a combination of multiple trend lines over multiple time frames.
BABA has a poor technical rating and does not currently offer a high quality set-up. The price has continued to rise recently. For a good entry point, it is best to wait for consolidation.