$BABA TOP 20
Added 2024-01-17 11:33:45 +0000 UTCHang Seng is down -3.7% now and really struggling, it is looking like it will test its low shortly and support needs to be found soon.
The stimulus measures from the Chinese Government have not calmed the market either yet.
Chinese Economic Data came out today too:
'China's gross domestic product expanded 5.2% in the fourth quarter and for 2023 overall, according to data released by the National Bureau of Statistics on Wednesday. While that was ahead of the Chinese government's official target of around 5% growth, it was still one of its lowest levels in decades.'
Even though the growth beat expectations and was impressive at 5.2%, the market is used to China growing a lot faster, is this unreasonable? yes in the short term.
$BABA has broken down from its wedge today and approaching its final Fib support level 0.88 Fib at $65.13, a failure to hold here and $BABA can come down to its all time low level again at $58.
Comments
Can you share details on $JD too?
Sal
2024-01-17 15:48:21 +0000 UTC70% of folks in the American economy are living paycheck to paycheck. China beat expectations and didn't just print money for 2 years like Biden. What am I missing? Investors act like a massive recession isn't going to hit the US very soon and China is in WW3
ES B
2024-01-17 14:53:55 +0000 UTCMarket is calling BS on china’s numbers methinks
VandelayIndustries
2024-01-17 14:33:40 +0000 UTC
