Waiting for pullback to accumulate Alibaba
Here is the link probably for those based in Asia and can buy Alibaba shares.
From its low of 57 dollars, it has bounced back more than 100% to its current price of 115 in less than 3 months. It is written on the wall that the tech sector regulations in China is over and a new chapter has begin in 2023 onwards. The Central government will now have a stake in these tech giants in a way to control their monopolistic behaviour.
The platform business, e-commerce, live commerce, internet related sectors are all too important in China and it is only in the interest of China to continue to invest and grow this sector exponentially. It could be the first sector to pull China out of its doldrums and spearhead its bearish GDP figures last year. Now, with the travel ban lifted up, we will witness the hospitality sectors picking up the lowest hanging fruits.
Do not forget, bookings of flights , hotels, payment gateway are all digitalised now so those operators behind these industry like Alipay, Tencent, Trip.com, etc will be the main beneficiaries.
So, I will be accumulating shares of Alibaba (9988) since I am based in Singapore slowly this year.
Please DYODD.
From its low of 57 dollars, it has bounced back more than 100% to its current price of 115 in less than 3 months. It is written on the wall that the tech sector regulations in China is over and a new chapter has begin in 2023 onwards. The Central government will now have a stake in these tech giants in a way to control their monopolistic behaviour.
The platform business, e-commerce, live commerce, internet related sectors are all too important in China and it is only in the interest of China to continue to invest and grow this sector exponentially. It could be the first sector to pull China out of its doldrums and spearhead its bearish GDP figures last year. Now, with the travel ban lifted up, we will witness the hospitality sectors picking up the lowest hanging fruits.
Do not forget, bookings of flights , hotels, payment gateway are all digitalised now so those operators behind these industry like Alipay, Tencent, Trip.com, etc will be the main beneficiaries.
So, I will be accumulating shares of Alibaba (9988) since I am based in Singapore slowly this year.
Please DYODD.
Comment:
www.shine.cn/biz/economy/2306308833/
Comment:
we see fairly strong support at 79 for Alibaba shares. March and May and now the recent one. Looking further back, we have Mar and May 2022 as well. The chances of it breaking below the Oct 2022 bottom is quite unlikely but like I said, everyone is not putting in as much money as they would like in the stock market. Many got burned by the property market and post Covid, the demand is still weak and people are more cautious than before , likely to save more than putting money in risky assets.....