kidze

$BABA daily 9 weekly 8 and monthly 9

NYSE:BABA   Alibaba Group Holdings Ltd.
I would be more interested if we see some wide range candles, indicating capitulative move. This 9 candle is weak. If next week is a 9, then I would look for daily 13. An aggressive trader would look for either Aggressive sequential and Aggressive combo 13. I doubt we will make sequential or combo 13 when we have done such a steep move down, but it can happen.

Fundamentally, investors have lost hope on Chinese tech companies. Chinese companies can't get Apple big, since getting big will take away the CCP's power and that is not going to happen. Thus long term investor will shy away from Chinese companies due to this political "cap".

I remain a trader for Chinese companies. Would not hold any for long-term since such an environment cannot breed multi-decade compounder like $AAPL and $AMZN