Due to the recent bad earning release, Alibaba shares tumble with heavy sell off from the market. Does it strike the fear in you to sell off the stocks you are holding?
Nevertheless, being an investor for long term, they should not be too concern on the quarterly result but to take note and monitor it. If there’s any changes in the business fundamentals, it’s an indication to sell it.
As we can view from the chart, Alibaba share price is on the downtrend & there’s difficulty to break the trend line, including the resistance at $104.04
For the trader, they could actually take the short position to profit from it few days ago, which I have personally share it with one of my friend.