$BABA TOP 20
Added 2024-02-18 18:49:09 +0000 UTCI want to be absolutely clear here.....I will not be trimming my $BABA position if the US MARKET corrects, $BABA has nothing to do with the US Market and is heavily correlated with the HSI as both charts are following each other perfectly.....$BABA is in no way following the $SPY or $QQQ.....so my plan all along is to have a position in $BABA because it is 1. Undervalued and 2. it is also a strong hedge against a US market correction.
$BABA position stays with me until it returns to its Fair Value, which I believe is above $120.
We will be watching $BABA closely this week for more continuation to the upside in this Inverse H&S pattern and also watching the HSI to see if it can break out of its channel and start a reversal.
Comments
I would rather hold a stock that is holding its Wave C level than a stock testing its Wave 5 level right now.
Gareth Neary
2024-02-18 19:14:31 +0000 UTCDoes the same counts for Nio? Nio is linked to Tesla, which again would be linked to US markets…
Matt
2024-02-18 19:13:29 +0000 UTCMany thanks for making this point very clear .. Hopefully for others there is no further confusion …
Johnnyboy
2024-02-18 19:12:47 +0000 UTCIn this case I will have to add heavily because my average is almost 130… but I’m staying cause I firmly believe in Baba
Federico Salerno
2024-02-18 18:52:51 +0000 UTC
