The Long Investor

$BABA

Added 2023-06-21 16:02:58 +0000 UTC

Chinese policy makers extended grants for new NEV's is the first step into QE and telling the market they will help industries with a stimulus but I believe the market wants to hear a definitive policy announcement. This will go a long way for the market and could really push stocks higher, until then, the market is being cautious.....this is still an opportunity for me.

I added more $BABA yesterday, so far the price is holding the break out level of the ascending triangle and the wedge from the 12th of June, it may still come down more, the 200 Day MA is just at the wedge trendline and this would be a great spot to hold support....we want to see this stay out of the wedge either way.

$BABA is a long term hold for me and I will continue to add while I see value, the rule of the thumb for a number of investors in $BABA is to accumulate around the $100 price, so I am happy to continue adding in the $80's.