The fundamental for the company is still bullish.
* News of customer data leak didn't send this crashing down and historically the market is relatively tolerable towards data leaks .
* All regulatory fines are settled and Jack Ma's lack of presence is at least indicative that he acknowledges a positive correlation between BABA's success and his attitude towards the CCP.
Inflationary risks also seem much less of a concern in China vs. US.
The technical buildup is also interesting.
* Nearing the apex of this falling wedge
* In the Historical Buy Zone (long term supporting trendline/zone)
It's also worthy to point out RSI behaving interestingly with BABA at weekly views, with successful entry setup seen at RSI < 35 indicated by green arrows, and riskier but would have been successful setup seen at RSI < 40 indicated by yellow arrows.
Position: TBD
Waiting for confirmation of close above the upper line of the falling wedge in the daily chart
* News of customer data leak didn't send this crashing down and historically the market is relatively tolerable towards data leaks .
* All regulatory fines are settled and Jack Ma's lack of presence is at least indicative that he acknowledges a positive correlation between BABA's success and his attitude towards the CCP.
Inflationary risks also seem much less of a concern in China vs. US.
The technical buildup is also interesting.
* Nearing the apex of this falling wedge
* In the Historical Buy Zone (long term supporting trendline/zone)
It's also worthy to point out RSI behaving interestingly with BABA at weekly views, with successful entry setup seen at RSI < 35 indicated by green arrows, and riskier but would have been successful setup seen at RSI < 40 indicated by yellow arrows.
Position: TBD
Waiting for confirmation of close above the upper line of the falling wedge in the daily chart
Nota
I had entered two days ago pre-emptively after considering risk.A bit concerned about the gap so I may only ride this out for a very short play and look to re-enter later.
Nota
Reinforced position here at 210Nota
Looks like I entered prematurely. The gap down at PM today is reaching close to my stop loss.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.