BABA,15min
Summary
*since we've only had three days of trading, I thought I'd merely highlight a micro 15min cycle chart.
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Suffice to say, my only significant concern is that those hitting the buy button for BABA aren't actually directly buying BABA stock.. they are merely buying part of some investment/holding fund based in the Cayman islands.
The word... shady.... comes to mind.
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Regardless, given a few more days, BABA will likely start to resume higher... the $100 threshold would remain an obvious target.
How long until we start seeing analysts with long term targets of $125/150 start appearing? In my view.. probably before year end.
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*those who believe the broader US/world equity markets will likely continue to rise for another 12-18 months (not exactly that bold an outlook), could be looking for BABA to double up to around $150 by late 2015.
Considering the crazy price valuations of some LOSS making companies - notably AMZN, BABA could be argued to be trading in the $200s.
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BABA is certainly one to watch for the rest of the year.
