Why and How I traded Alibaba , BABA yesterday.
Buying BABA at present low price levels is indeed a no brainer for this stock. BABA price has been falling after the company overhauled its processes which did not get into the good books of analysts . At trading session just concluded, BABA hit a low of 77. For a mega stock like BABA, 77 is too cheap to miss on the buys. Sure it may go lower today but it is not likely one would catch the bottom. From my DD, I delve straight into the stock. I pocked up at some between 77.10 and 77.20. This growth stock has lots of room to grow in spite of the turmoil caused by the overhaul. Waited patiently as ever to take some profits as current market for BABA does not favour holding alot for the long haul. Sure enough, the stock price crept up during the power hour (the last hour of trading) and I realised some good profits. Then when it dipped again, I bought enough back to hold for dear life.
BABA will out perform in the years to come with its e-commerce arm bringing in huge revenues for the company. Besides ecommerce, the company has many other growth sectors especially in AI to grow by leaps and bounds. Yes, I will continue to buy BABA on the dips.
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There is absolutely no need to be pessimistic about its future
I have already started buying this company at the bottom haha
Hurry up and go up, Amazon won’t let you down
Let’s go long BABA stock together!
The valuation of this stock is really attractive