$BABA TOP 20
Added 2024-05-23 11:02:33 +0000 UTCThere is a rumour circulating around Bloomberg this morning that $BABA are considering raising a $5 Billion convertible bond and the PM is now down -2.5% which effectively means taking on more debt but at a lower interest rate....$BABA also has enormous amount of Cash on hand too, so it is interesting to find out what they need this additional cash for
The 0.38 Fib is the standard pull back level for Wave 4....with this catalyst, the price will likely need a lower level to find support.
And with the 200 Day MA at the same level as the 0.5 Fib at $79.45, this is now the area of interest for us.
I will be watching for a hold here.
A hold here and I will add.
