$BABA TOP 20
Added 2023-12-10 07:21:43 +0000 UTCI uploaded $BABA on the 1hr chart on Friday so just a recap here on the daily chart with the RSI indicator.
I said during the week that $BABA never stays below RSI 30 for too long and the last time it did go below 30, the price jumped from $79 to $106 quite quickly.
We can see that the RSI is already starting to bend slightly higher after Fridays channel breakout and holding a higher low.....we need a follow through next week to say that the 0.78 fib at $71 was the bottom and Wave C is in.
My target of $120 is a realistic target over the next couple of months but when the US market starts taking its turn at the start of early next year, investors will start seeking value in other markets and $BABA could benefit from this too and push this $120 target higher.
Comments
Under Xi control, everything is going down the drain.
Jedi
2023-12-12 08:21:03 +0000 UTCIf you go to China, Alipay is Paypal. Aliexpress is Amazon Worlwide. Taobao is Amazon China. Cainiao is like Fedex. Baba Cloud will grow like hell, because 90% of chinese businesses prefer having their data treated in china. Patience.
Rene
2023-12-10 09:58:52 +0000 UTCChina's CPI data was not very encouraging. Maybe we can discuss $BABA in that context. Nevertheless, I have a similar average as you and I'm considering adding once it finds support.
Thomas
2023-12-10 09:08:13 +0000 UTCI’m strongly considering more. I have average now at $89. But agree growth potential is massive plus extra perk of having small dividend payout
WiktorW
2023-12-10 08:38:15 +0000 UTC
