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No. of Recommendations: 6
BABA is bouncing around its multi-year low of $112 today, which has been hit twice in the last two months. I don't put a lot of credence in technical chart analysis, but some people do, and looking back at the chart, there isn't much 'support' at this price: on the way up a couple years ago, the price just blew through this area. The next are where the price has support is down at ~$87. If we bounce off $112 again, then it would appear support is building at this level.

The stock seems a great value at this price, but it's being weighed down by numerous uncertainties including competition, the Chinese macro economy, and Chinese government regulation, etc ..., so it seems plausible it could fall further. I'm still holding a somewhat overweight position in BABA from earlier, more expensive purchases and am not adding more at this time. If it were to break through the tentative support at $112 and head down toward prior support at $87, I think I'd pull the trigger on another helping.

What do other BABA investors think?
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