BABA: Due for a Meaningful Bounce

BABA approaching support and the bottom of a long term channel. My opinion is we'll see a bounce into earnings on the 13th and possibly pushing higher depending on the outcome. This growth stock is so "cheap" right now even Charlie Munger likes it. A close below 222 would be an invalidation of the green support line and a weekly close below 217 would probably invalidate the channel.

Commentaire:

Unfortunately, it appears the channel has been breached and unless we see major buying Friday, this may have farther to fall.