$Alibaba(BABA)$from the 1D chart, the stock looks to be topping and may begin a downward trend. it is possible for the price to hit another high before the price turn downwards. for me, I am anticipating the price to go downwards. it is critical that it does not break the previous low of around 140. once the price has bottomed up (MACD), I intend to buy another LONG position for the stock.
the earnings at 4 Nov can see some buying in anticipation of the coming 11.11 shopping - expecting to hit another record sales.
it is not surprising if there are external news or events that can affect the price for the short term. however, the stock is undervalued for me (less than $226). for those who are doing dollar cost averaging (DCA) like me, we are in the buy zone. a little patience can help us to avoid some false signals and hopefully better profit.
this is a prediction based on technical indicators. we need to be hopeful for the best and prepared for the worst. let us not forget that the stocks do not follow indicators but we use indicators to make sense of possible scenarios.
let us do our due diligence before we invest. happy investing.
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