During Thursday's Mad Money program, Jim Cramer said the strong Q2 news from Micron Technology (MU) will have a ripple effect on all of the cloud stocks. He added that Alibaba Holdings (BABA) was a buy. Let's check out the BABA charts.
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It can safely be said that no one saw this course of events coming.
While still reporting healthy revenue and billings growth, Slack and some other software high-flyers are also seeing some demand headwinds.
Other than taking profits, I'm not interested in putting on new trades.
Let's check and see what the charts look like.