$BABA TOP 20
Added 2023-08-24 12:42:16 +0000 UTCVery happy to see that the market has acknowledged China's positive steps (although slow) to help the economy and their industries.
I like seeing that the Chinese policy makers are now working with the Big Tech companies and realising that they both need cooperation with each other to both prosper....China policy makers grew wary of Big Tech a number of years ago and this did damage their growth, possibly doing this to flex their control....now it appears that they both realise that working together benefits both.
Back to the chart, PM price action has now brought this back above the 50 Day MA on the 1hr chart.
On the daily chart, the 50 and 200 Day MA are together at $91.55, so this is an important level to get above.
I am happy to see this hold support back in the channel again and build on this momentum.
