The Long Investor

$BABA TOP 20

Added 2024-05-14 11:02:43 +0000 UTC

Ok mixed earnings from $BABA

Revenue increased but profits dropped as they aggressively spent to expand their cloud division.

A number of companies within $BABA's framework performed very well and carried the rest of the company.

Free Cash Flow misses were hammering stocks during the earning season for the last 2 weeks so we will see how this plays out today, $BABA is already down -3% in the PM

But we want to see more of a pull back to add again.

Profits dropping to help growth is straight from the $AMZN playbook and something long term investors should always want to see

Profits dropping because revenue dropped, is not what we want to see....and that did not happen here today.

So between the 200 Day MA and the 50 Day MA is the sweet spot and we have our 3 Fib levels in green there.

The 50 Day MA is just below the 0.618 Fib at $74.

If the red line is lost today at $77.70 then I will wait for support to be found to add but I am keen to add to my $BABA position and will DEFINITELY be taking advantage of this pull back.