Long on BABA
Ali Baba is a tremendous value at these prices. The company is fundamentally sound with e-commerce, financial and cloud services. The question is where is the bottom. I strongly believe that the bottom occurred yesterday when the daily candle formed a hammer and the bottom of the candle bounced off the 150 day moving average. Furthermore, the 150 ma was retested today as support and today BABA is formed a bullish engulfing candle. Keep in mind it is still 20 minutes until the market close on 11-19-20.
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