The Long Investor

$BABA

Added 2023-06-30 13:12:17 +0000 UTC

$BABA is testing patience here, it is still pulling back and lost the 0.618 Fib but giving bulls hope because the pull back is still valid as it moves towards the 0.78 Fib and more importantly, staying outside of the wedge, we can see that the lows are staying exactly on top of the wedge too as it moves down, so we are not alone here on our assumption that this line being held above the wedge is very important.

No changes for me, in fact I am not bothered by this whatsoever, I have decided that $BABA will always be part of my long term portfolio and buying it cheaper is not an issue for me.

I am taking the same approach to $BABA as I am with $NIO, we want this to come down to accumulate more, the ironic part of this is that $BABA is far less riskier than $NIO but we have all come to terms with the fact that we are very happy if $NIO comes down, in fact, we'd be upset if it didn't come down.....which is really how I want us always to be when we want to add to our long term stocks and stocks we feel are undervalued.

So let's take this approach going forward, as long as the fundamentals do not change and they haven't for $BABA, our plan should be to add.

This is for long term investors, traders should utilise their stop losses and those who are leveraged on this.