$BABA TOP 20
Added 2024-05-16 15:50:53 +0000 UTCThe market saw $BABA's earnings report and saw it for what it's worth, an expansion blueprint, something Jeff Bezos would be proud of.
We also got to see what a lot of institutional investors bought in Q1 yesterday and they went heavy into Chinese stocks.
All members of this group of course.
I sounded like a broken record over the last 9 months, explaining how Chinese stocks would reverse because of how undervalued they were and it was easy to turn a blind eye to my preaching because it was taking its time but thank you for sticking to the strategy here and then taking advantage of cheap stocks.
$BABA has now shot up to the 1.618 Fib today at $86.88, so we will need to see if Wave 4 will come in next but I wouldn't mind seeing the blue line at $87 flipped to support either.
The double test of the red line at $77.70 gave us confidence to add and I strictly stuck to my conviction and oddly managed to buy the bottom after the earnings, it doesn't always work out like this but we followed the chart and left bias aside.
Comments
Isn’t China’s economy in a major crisis? Is the government intervention going to help these stocks? I’ve seen many ppl advise to stay far away from China. What are your macro thoughts that make you so bullish? @thelonginvestor
Zachary Alpirn
2024-05-17 03:19:11 +0000 UTCEverything about Baba is always well gathered 🤓
Federico Salerno
2024-05-16 19:31:58 +0000 UTCI agree! I’d love to see if we can hold it even after wave 5 is over or there would be another massive correction
Alex
2024-05-16 15:54:50 +0000 UTCGar would be great if you could share us over the weekend the long term chart for $BABA. Thanks 💰
WiktorW
2024-05-16 15:53:12 +0000 UTC
