Mar. 20 at 7:29 PM
$BABA just got obliterated — down 7.09% to
$124.90, RSI at 25.23 (deeply oversold), on 2.90x relative volume. Combined with
$TCEHY,
$66B in market cap evaporated on AI monetization fears.
$BABA is trading 10-19% below all key moving averages (SMA20:
$139.26, SMA50:
$154.14) and down nearly 20% in a month. Chart is broken. No support until you revisit the 52-week low zone near
$94.97.
The narrative is clear: global investors are done funding AI capex stories without monetization timelines. Same pressure hit
$META and
$AMZN — though
$AMZN holding better at
$208.76, RSI 44, near SMA20 support.
$BABA bounce traders watch
$120 as a line in the sand. But with geopolitical headwinds layered on top, any rip is likely a fade until fundamentals prove the AI pivot.
#Alibaba #ChineseTech #AIStocks
