ALIBABA (BABA) STOCK | I'M BULLISH ON THIS STOCK

ALIBABA (BABA) STOCK closed at 222.36 on December 28, 2020.
In this video, I go over why I'm bullish. They are still under investigation from the Chinese government over suspected monopolistic practices. Alibaba is forcing online merchants to sign exclusive deals which prevents them from offering products on rival platforms. This investigation is the equivalent to US congress investing FAANG companies Alibaba’s Hong Kong listed shares were down 8% on Monday after China’s central bank released a statement Sunday criticizing Ant’s business which is an affiliate company of Alibabas. China ordered Ant to examine its finch businesses. Alibaba increased its stock repurchase program from $6 billion to $10 billion dollars. This did not help the stock price. We see that the stock got all the way down to 215 which is close to my support of 213 and it was down from the previous close of 222. It quickly gapped up to 224 before consolidating around 221 and 224. It will definitely take some time before it gets above 250 which was before the Chinese government announced they were going to investigate Alibaba. I believe that the Company will get above 250 in the next couple of months which is why I decided to buy another call option bringing my total contracts to 3. I have a strike price of 265 and it expires March 19 2020. I also have 125 shares which I sold 1 covered call on it which I was able to collect a $104 premium. The reason I’m not worried about this news is because Alibaba is the largest e-commerce platform in China. 80% of china’s online shopping market is dominated by Alibaba. Bret Kenwell from the street.com quoted Altought it may take some time for a sustainable recovery to take place, this seems like a reasonable dip to buy for patient bulls.

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DISCLAIMER: Please note that I am not a financial adviser nor a CPA. These videos are for educational and entertainment purposes only. I am merely sharing my opinion with no guarantee of gains or losses on investments. You are responsible for your own financial decisions. Please seek out a financial advisor if you’re looking for financial help.

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