BABA approaching Support
BABA is undeniably one of the least appreciated stocks in its sectors. Compared to its direct US competitors such as AMZN, which is trading at 73 P/E, BABA's 37 P/E is at a 50% discount. BABA, while subject to a lot more foreign scrutiny and anti-trust legislation than AMZN, is still very fundamentally strong if you look at their balance and income sheets. Their presence in both China and Globally is growing and they are diversifying their own footprint into a multitude of other sectors outside of just e-commerce.
BABA is approaching both a trendline support and a demand zone as highlighted in the charts which will prove to be good entry points as BABA will likely retreat back to its ATH in a best case span of 6-9 months and worst case of 2-3 years.
BABA is approaching both a trendline support and a demand zone as highlighted in the charts which will prove to be good entry points as BABA will likely retreat back to its ATH in a best case span of 6-9 months and worst case of 2-3 years.
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