BABA stock has seen some amazing growth this year.
China regulators passing antitrust laws scares me. Hindering disruptive innovation and capping these growth companies is not good for these Tech companies.
I do like BABA as a company. Long term I think it's a great hold but as of now, I'm uncertain...
Right now it fell below my first support and is trading at the support of 260-265. Should see some kind of bounce here but not sure if it will be a dead cat bounce.
Now is a good time to add (buy on fear) and save some extra cash if it goes to 240-245.
China regulators passing antitrust laws scares me. Hindering disruptive innovation and capping these growth companies is not good for these Tech companies.
I do like BABA as a company. Long term I think it's a great hold but as of now, I'm uncertain...
Right now it fell below my first support and is trading at the support of 260-265. Should see some kind of bounce here but not sure if it will be a dead cat bounce.
Now is a good time to add (buy on fear) and save some extra cash if it goes to 240-245.