One beaten-down tech stock could be on the verge of a breakout (via TradingNation)
— has come under pressure this quarter. Those losses have been so sharp for Baidu and Sina that they are on track to close out the second quarter with their worst loss since at least 2010.
Michael Binger, president of Gradient Investments, says there's still hope yet for these Chinese stocks, an emerging-market alternative to the FANG stocks — Facebook, Amazon, Netflix and Google parent Alphabet. "I don't think the BATS stocks are untouchable. I think you need to tread lightly," Binger said on CNBC's "" on Tuesday. "I think sentiment more than fundamentals is weighing on these stocks.""I would really go with Alibaba," he said. "Alibaba is the leading e-commerce company in China. It's one of the leading e-commerce companies in the world.
The whole Chinese internet trade could still be in for more downside, according to Mark Newton, technical analyst at Newton Advisors. He says the"It's acted very similar to how the U.S. has acted over the last year. We bottomed right near Christmas Eve, rallied up until the beginning of May, we peaked — we bottomed out in early June, and now we're starting to roll over again," Newton said during the same segment.
"I see a bit more lagging to go for China. I do think this will be attractive potentially in a month or two on further weakness, but for now I think it's an avoid," said Newton.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Hoka One One EVO Mafate 2 Stays Fast, Gets More ComfortableThe second version of this light and fast trail racer is even better than the first.
Read more »
University of Utah Student Still Missing After Taking LyftPolice are searching for the 23-year-old after she went missing on June 17
Read more »
Prince George Is Already Quite the Little MatchmakerOne of Prince William's best friends is engaged to one of Prince George's teachers.
Read more »
Meet Sean Dorsey, One Of The Nation's First Transgender Modern Dance ChoreographersAfter 15 years creating dance for his namesake company, Sean Dorsey Dance, the visionary choreographer continues to thrive.
Read more »
The Leopard Print Midi Is the Sally Rooney of Skirts12 Leopard Print Midi Skirts for Whenever You're Ready to Admit You Want One Too
Read more »