Hi everyone,
This stock has been making new 52 week lows for the past several trading days. Most of it (I believe) is due to the Trade War rhetoric, and some concerns about their Digital Media losses. Today's announcement about Jack Ma's succession plan is adding a bit of fuel to the fire for the Bears.
Me being smart (idiot), I tried to catch a falling knife at $169.90, hoping to make a quick swing trade, since at the time this was a near 52-wk low and I was expecting a bounce. Now I'm bag holding, and I'm stubborn, I don't like selling at a loss, especially since I do see a lot of potential for BABA in the long term (My plan B in case Plan A failed). I dont think it can go down forever with the type of numbers they make, and China isn't going anywhere anytime soon.
That said, where do you guys think the bottom is? I keep seeing $150 floated around, and people talk about a gap at this level. I know no one has a crystal ball, but any thoughts on this stock and it's risks/potential would be greatly appreciated.
Submitted September 10, 2018 at 10:44AM by LuxGang https://ift.tt/2Nul3vq
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