O/T The AliBABA founder rumour that is to buy http://www.acmilan.com/it more then rumor I seen on TV with Berlusconi (ex Primer Minister and AC Milan owner)
SEC probes Alibaba accounting methods, shares dive U.S. regulators are investigating Alibaba Group Holding Ltd's (BABA.N) accounting practices to determine whether they violated federal laws, the Chinese e-commerce giant said, sending its shares tumbling nearly 7 percent on Wednesday. Read full article here: http://www.reuters.com/article/us-alibaba-accounts-sec-idUSKCN0YG1U0
This is one of the main reasons why I don't dare to dip into Alibaba. When a company with questionable reputation enters American market I can't help but be suspicious about it. Add the fact that it's Chinese and we know little about how they do business and the coctail is more than repulsive.
Alibaba won and lost a friend in Washington; how it happened In 2011, a respected anti-counterfeiting coalition in Washington escalated its fight against the Chinese e-commerce giant Alibaba, saying its websites served as a 24-hour market "for counterfeiters and pirates" and should be blacklisted. Fast forward to 2016. The same lobbying group, the International Anti-Counterfeiting Coalition, reversed its position. Read full article here: http://www.msn.com/en-us/money/comp...iend-in-washington-how-it-happened/ar-BBtxQ2F
Will it hold $75? $5 range proved so far a fair price value zone till proved otherwise good to by at 75 and sell at 80 area.
will it hold $75? $5 range proved so far a fair price value zone till proved otherwise good to by at 75 and sell at 80 area.
BABA will launch virtual reality shopping technology BUY+ at the end of July in Shanghai, allowing shopper using VR gear to shop.
Aka you download an app on your PC and you can browse the entire catalogue in VR? That's pretty neat!
I would like to see the introduction of dividends for investors at this earning release. That would be a nice perk.
Reports tomorrow before the bell (8/11/16) Another great, diversified franchise that should be worth more than what it sells for. Payments, cloud and mobile are BABAs most prized possessions that should drive growth. If AMZN and MELI earnings serve as any guide, BABA should report a good quarter led by strong growth in mobile. $79.46 - $81.07 absolutely need to hold if bulls are to overcome overhead resistance priced between $86 - $88.68. Only a trade below $75 - $76 jeopardizes the rally at hand. If $89 is taken out to the upside, $95 follows. If $75 is taken out to the downside, $71 follows. Otherwise trade the range between $75 - $89.
Alibaba Stock Surges on Unexpectedly Strong Growth Numbers https://www.thestreet.com/story/136...ng-growth-numbers.html?puc=yahoo&cm_ven=YAHOO
After this nice earnings report for BABA, looks to me like major back-filling of panic is going to ensue. The pattern is an inverse head and shoulders with a measured move of 24pts (from September lows to yesterday). The breakout of the right shoulder typically yields a similar measured move. Since the price action is trying to lift off of the POC (point of control) of it's entire stock history, it will require above average volume ..... which is what we appear to be getting at the moment. EDIT: Actually that neckline I drew should be a smidge lower. It should be at 80. The measured move is 22pts (not 24).
