BABA is simply being sold for one reason right now, fear that the Chinese Communist Party (CCP) policies will do "something". That "something" ranges from nationalizing large companies in China to banning profits and foreign investment to the more standard communist practices of wealth redistribution and an inefficient government bureaucracy amongst widespread corruption.
But if we’re looking at
BABA as a company it’s undervalued.If price is able to find support around my boxed level it would give a good long term hold.
Oversold on all major timeframes.
- Factor Four
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