BABA: Buy Signal: Let me know what you all think?
It's all in the chart.
I do not forsee BABA retracing back to 183, but who actually knows.
Always keep in mindThey could always be black SwanEvent
BABA looks to be on the uptrend. Buy Signal (5-07): Going Long.
Up Trend: Impulse. Down Trend: Correction.
All wave Patterns are impulse or correction.
Sideway: Except for moving horizontally.
Retracement: Price hit Support, Reversal Period,
Stop Loss: 60/40 Split.
Resistance: Price Falls below Previous .
Only trade when you see repeated price pattern.
Limit to roughly 15-20 trades per month 2/1.
Impulse & Correction: 50/50 Win or lost: lose $50 - Make $100
Hope this chart was helpful to you all. If you all have questions feel free to ask or comment in the comment section below.
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Happy trading People...
However, what you have to keep in mind is that BABA is becoming a powerhouse to be reckoned with, a global-name.
Please don't forget the exploding Chinese economy, and constant scaling, International growth.
This is meant to say BABA success is not soley Predicated on China's growth, but it could help.
Don't forget Alibaba's growth presence within Southeast Asia.
Currently. owned majority stake in LAZADA and up and coming E-Commerce in 6 SE-Asia Countries.
China has managed to raised it's middle classs to 500million. Which could increase to 700million.
Although, it's Competitors in China, DHGate, MadeinChina, and GobalSource.
BABA is #1 E-Commerce Supplier for Aliexpress, Shopify and Amazon.
Market Cap: Mkt Cap 486.722B, PE 51.76.
I can easily see BABA and the Alibaba's growth surpassing the $1 trillion.
I guess only time will tell.
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