Whilst the broader market saw continued swings/volatility, Alibaba (BABA) opened sharply lower (intra low $87.36) on earnings which were certainly reasonable, but just not good enough to placate a rather demanding Mr Market. BABA settled -8.8% @ $89.78. Next key support is the Oct' low of $82.81.
BABA, daily
Summary
Suffice to say... interesting company... although the BABA stock itself.. is of course.. not really an actual stock.
-
Outlook is broadly bullish.. huge profit margins look set continue.
Price structure is offering a test of the Oct' low.. before new highs later this year.
