No it is too soon to make a technical opinion on the stock.
I will ride the BABA if I can tame it first. To do it, I need to define my risk
In reality this is the worst time to trade a stock.
Traders in the stock are driving blind as risk can not be defined.
Sure analysts can make judgments on the value vs. the revenue. They can compare it to other companies in the genre. They can speculate that in 5 years it will likely double which is a pretty good return on an annualized basis.
But why did they value it at $68 and it is now at $92.70? What if it goes back to the IPO price first? What will traders/investors feel like then? Will all the buyers at $95 and $98 feel good? Probably not.
For me, the picture (i.e., chart) where I can put a line on it, or a moving average of 100 or 200 hours. A picture that has some history of days, where I can see where buyers came in, or sellers sold. Those are more important to me. They allow me to tame the savage beast and judging from the first few minutes of trading, BABA is a beast.
I don’t mess with a beast unless I can tame it.
