Is It Time To Throw The BABA Out With The Bath Water?

Alibaba Group

shares are trading lower by $0.86 at $81.50 in Thursday's session. Despite being on track to increase its share in the mobile ad revenue market in China. it is under selling pressure in today's session. Perhaps the Street is focusing on the counterfeit goods and other problems plaguing the company. The issue, which has been range bound since February 27 between its all time low $80.03 and $87.16. was trading near the upper end of the range ($85) earlier in the week. However, it is not on track for its fourth losing session in a row since closing at $84.58 last Friday. At this time, it is attempting to distance itself from the lows for the session ($81.25). That represents the lowest level for the issue since it bottomed at $80.77 on March 13. If that level is breached, the issue may be heading for the its all time low at $80.03.