CATCH A FALLING ANYONE? LONG BABA PT 260 SL 210 #DOUBLEDOWN

It is clear that BABA is greatly undervalued at this level and that regulatory impact to its revenue is likely to be immaterial.

Attractive Forward P/E of 16.72 and 22.55% profit margin!

Found support at 1.618 Fibonacci extension. This was calculate based on the impulsive downward move (319.32 to 252.55) that broke the uptrend.

Currently outside lower Bollinger Band and should revert back to the mean.

Positive divergence on MACD histogram and and in oversold territory on RSI.

Price target of 260 is based on current 20 day SMA.

Stop loss set just below 1.618 support level.