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r/baba
Technicals don't matter anymore
Investor summaryBullish
BABA's daily RSI hit a record low 16.83, showing extreme oversold conditions despite plunges, but the author remains confident.
Bull points
- The stock is extremely oversold with a record low daily RSI of 16.83, suggesting a potential bounce.
- The author maintains strong confidence and continues to hold despite the severe drop.
Bear points
- The stock is tanking severely and completely ignoring traditional oversold technical signals.
Post body
Anyone who trades stocks based on fundamentals: BABA just hit the lowest RSI it ever had on daily base: 16.83. That is super oversold. And yet, here we are, tanking like hell.
This is one weird ass stockmovement we're witnessing.
Still holding strong tho, confidence!
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