$BABA TOP 20
Added 2023-08-16 14:53:49 +0000 UTCPrice has not held the 50 or 200 Day MA, after holding well for the day yesterday.
Troubling news continues to flow out of China and the worry of course is that we know the economy needs help but we need the Chinese policy makers to come to the rescue.
Let me be clear, the US's situation in Feb/March, with extreme high inflation and regional banks collapsing and not being able to use QE, far outweighs the issues China has now.....and the US managed to circumnavigate that crisis so far and stocks in fact climbed very aggressively.
$BABA's price is right at the blue line which we know is a historical support/resistance line, below this line and the yellow trend line and there is weakness, it will start to lose structure.
Whatever happens with $BABA, I am sticking with it.
Comments
Does it concern you that Burry sold his entire position in $BABA and $JD? That is something that previously gave me comfort.
Andrea
2023-08-16 20:34:40 +0000 UTC
