$BABA TOP 20
Added 2023-08-10 10:52:04 +0000 UTCOn the day of their earnings report, we can see on this chart that the 50 Day MA is about to cross the 200 Day MA here, nothing can stop this crossing now.
With such a positive earnings beat, the catalysts (earnings) and the technicals are aligning here.
The elephant in the room is the weak export figures that came in yesterday and a variable that could spoil the show....that being said, the Chinese policy makers need to turn this around.
$BABA is doing everything right and it is the reason why I doubled my position in $BABA in the last week as it pulled back.
I have maintained that under $100, which appears to be the institutional average for $BABA, is a good price to buy.
