The Long Investor

$BABA TOP 20

Added 2023-10-10 15:52:51 +0000 UTC

Performing well today like a lot of stocks and Chinese ADR's, due to China's announcement that they will start a stimulus package and it could not come fast enough.

We have been waiting weeks for this...if not months.

The initial stimulus package will be for $137 Billion, I suspect they will continue until they get the job done.

I like how $BABA has not made any eradicate movements over the last 2 months and I believe this is down to their positive earnings report in August. It has moved slowly down with the market but has never lost its impulse structure.

The plan remains the same, to get above the blue line at $88 and hold support.

I suspect that their next earnings report in Nov shall be confirmation that revenue is increasing again.