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Strategy : ABCD PATTERN IN BULLISH TREND
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BABA
9988 (HKX) (BABA-SW) - Be CarefullGreetings
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Analysis
9988 (HKX) (BABA-SW) - Be Carefull
If you think market will be saved by 1.9 Trillion stimulus..!Today many newbies are happy because US Senate just passed the 1.9 trillion bill.
But let's see what happened in the last 8 weeks in the market.(MARKET CAP CHART)
The top ten companies with the highest market cap have lost almost 1.45 trillion of their market cap in the last 8 weeks.
Hypothetically, IF PEOPLE INVEST THE WHOLE 1.9 TRILLION IN THE STOCK MARKET IT IS NOT ENOUGH FOR TOCKS TO REACH TO ALL TIMES HIGHS.
Only Google and Berkshire behaved differently in the last 8weeks and they did not lose their market cap!
Please be realistic..!
PLEASE REVIEW MY PREVIOUS ANALYSIS ON MARKET CORRECTION SINCE JANUARY 29, 2021
Moshkelgosha
Expecting Upside from Here for $BABA $233-$234 Fibonacci Tested$BABA I'm expecting some major upside in BABA for the rest of the year.
$233-$234 is likely a major retrace/pivot point.
Fundamentals: Cheaper than any of the mega-cap tech plays except Facebook. More catch-up potential. AMZN of China..
Not advice, opinion only.
Goodluck.
BABA Sells approaching TP 🎯Entry details are shown on the chart.
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The stats for this pair are shown below too.
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Darren
A review on what happened to the Market Cap Titans in this week!WATCHING THEM ALL TOGETHER MAY HELP YOU DECIDE BETTER!
No need to say they have one thing in common, LOWER-highs & LOWER-LOWS and MOST OF THEM SLIPPED BELOW 50EMA!!!
This is the most simple Definition and Sign of the Bearish market!
any bounce back could be an EXIT opportunity.
The bigger the loss becomes, the harder it becomes to accept..!
Moshkelgosha
China's Consumer Discretionary ETFFrom the beginning of 2020, emerging markets, and specially China, had been really outperforming.
The sector has taken a 12% correction from its high on February 16th. Which was coincidental with the past sell signals from the drawn channel.
We have tested the 50sma, which has worked as the lower channel trend line in this system.
Risk-reward-ratio is fantastic as we can a stop below the moving average; with a target around $42.
Top 5 Holdings:
Meituan (10.38%)
Alibaba (7.92%)
NIO (7.42%)
JD (6.98%)
PDD (5.94%)
BABA - Lets touch the support and fly!After the pandemic-related increase in e-commerce, BABA saw tremendous increases in its revenues.
However, recently they had to drop some heat which resulted in a 15-20% drop. With the current drop, it seems like
BABA reached one of the strong support points which can give us a quick jump back.
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$BABA | Double Bull Flag Breakout: Is The Correction Finished? $BABA formed a second bull flag after breaking out of a large descending channel. Watch for a bounce from the bull flag structure retest above $252.
If market weakness continues then we may see a deeper correction as low as $244 (lower blue zone) where we can look for alternative entries.
Initial target is $290 to fill the gap. Secondary is $302 based on structure. Invalidation below $240.
Let me know what you think in the comments and leave a like if you agree with my analysis! 👍🏽
Alibaba group Accurate forecastAt point 1 you will notice a nice correction pattern that signifies more upside. This is similar to what is happening now at point 2. That is why I expect after the correction at point 2 is completed the uptrend will continue. As the pattern develops i will keep this idea updated, so like, comment, follow so you don't miss any update. Thank you.