$BABA TOP 20
Added 2024-06-16 17:06:31 +0000 UTC$BABA breaking below its 200 Day MA this week and the confluence level with the 50 Day MA and the 0.618 Fib at $76 was certainly a disappointment to see, so what do we do?....moan, give out or make a plan?
I know what I always do, I re- assess the fundamentals and make a plan.
The fundamentals have not changed, so if $BABA continues to move lower to the blue line at $71, I will be prepared to add again.
While $BABA is under the 200 Day MA, I will consider this a buy and accumulate.
Those who are struggling with holding $BABA may has issues holding Chinese stocks, I have no issue holding any undervalued stocks
If you find this very uncomfortable, then make a decision, only you know your risk tolerance.
There is always three options: hold, buy more or sell.....there is no moaning option here.
Comments
I am not struggling holding Baba and adding is something I have considered already so I am ready to do it at the right time!
Federico Salerno
2024-06-16 18:42:03 +0000 UTC
