$BABA TOP 20
Added 2024-06-04 15:00:47 +0000 UTCThis chart does not give me concerns, in fact I do not have any concerns with $BABA, $BIDU and $NIO....patience is the skill we have learnt.
I will never have an issue holding a stock that is fundamentally undervalued across all metrics and for $BABA and $BIDU they are as undervalued as you'll get right now.
HSI pull back has been flawless but remember it is a mean of the market, some pull backs will be stronger, others will be shorter in this market....($PDD holding strong, $BABA pulling back to the 0.5 Fib to 0.618 Fib)
But lets look at where $BABA is holding, on the red line, which was a formidable resistance line since December, failing to break above this level 4 times until April.
So testing and holding above this line is what we like to see.
50 Day MA is also coming up to meet this level too to offer support.
$BABA is likely waiting for the HSI to make its move and so should we.
