JICPT|BABA terminated downtrend, ready to go up!

Hello everyone. As I expected my previous idea of BABA, it managed to conquer the downtrend line with a higher high pattern.

What's next?

From the daily chart, it might dip a bit or go sideways to accumulate momentum before retesting the long-term MA in red color again.

I think I've listed enough reasons for the bullish setup after the weak performance of over 230 days.

With limited room to go down, my trading target is over 255.

Stay safe and trade safe! Give me a like if you're with me.

Comment:

The bad news from DIDI triggered sell-off Chinese tech stocks in HK market. BABA, Tencent, Meituan tumbled today. Technically, the uptrend has been terminated with lower low created. If you have the exposure, you might hold for a while before recovering.

Comment:

It's been a few days since the removal of DIDI's app from the app store, investors become calm down a bit and tech stocks are moving up to recover losses from overreaction to the sudden news.