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Dominik lechner
Vor 1 Stunde
Forbes published an article yesterday titled ‘Alibaba Stock Looks Undervalued At $80 Per Share’. Media coverage is starting to turn. The ‘measured move’ analysis isn’t crystal ball method of TA, and most things can be thrown out the window in a bottoming process. The stock has clearly been moving sideways for a year after a 2 year downtrend. What I see is a falling wedge after the initial run up off of October’s capitulation. If this wedge breaks to the upside we could run to 120 and try for a breakout into a new china bull market. The stock is so undervalued that after a year of sideways movement that seems much more likely than heading for a double bottom like 9 months after it’s original capitulation drop. China is expected to announce a stimulus package soon, if it happens this weekend I bet baba gaps up hard on Monday.
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