$BABA TOP 20
Added 2023-12-15 15:30:51 +0000 UTC$BABA is starting to make its move and we are seeing a number of bullish indications and positive news flows from China too.....the largest ever recorded Financial Injection into the Finance sector was reported today, this was a real intent from Xi and policy makers that they intend to help the economy and it was needed.
$BABA which is very responsive to Chinese policy, has reacted very well.
Formed a small wedge yesterday above the yellow wedge line and has broken out of it today and continues to perform well, this still has more to go I believe.
Any retest of the trend line again or wedge $72.60 and it holds, it is a buy.
We want to see a run back up to the red line at $77 next which would be a clear sign of a reversal.
Comments
Does that count?
Chris H
2023-12-15 16:21:20 +0000 UTCWe did retest at a new low of 72.51 close to the open today
Chris H
2023-12-15 16:21:15 +0000 UTC
