The Long Investor

$BABA

Added 2023-07-20 08:49:45 +0000 UTC

If this was any other chart from the US, we would be very happy to see that the price is holding above the 200 Day MA, making higher highs and higher low, and Wave 2 held the 0.65 Fib level....let's not get distracted by the noise because this chart is looking good.

I have attached a Reuters article from today to show how the some Tech companies in Hong Kong have responded very well to policy measures from mainland China towards the private economy. More of this support is encouraged.

If we can get a break above $97, it means I can see more than 3 waves, so I can rule out this structure being a corrective wave.....I do not think it is a corrective wave either way, but I want to see the confirmation.

Either way, as long as this continues to hold above $88, I remain bullish here. Any dips to this level today I believe will present a good opportunity to add.