Alibaba long with the Market wide drop
Alibaba's price dropped in the first hour alongside the market because of the trade fears. I took that as an opportunity as Tmall owned by Alibaba is also participating in the 618 mid year festival. The key difference is that Tmall has extended their sales to the region namely Hong Kong, Taiwan, Singapore and Australia.
This means that in addition to China consumers, consumers across APAC will be able to access products at deep discounts online and offline during the event.
This year Tmall is working with over 70 shopping malls and commercial districts across mainland China and Asia to open pop-up stores that will offer consumers a seamless online and offline shopping experience. New Retail is a key element in this year's promotion, combining online and offline elements.
I expect Alibaba to also release a report of their positive sales across APAC + China after the 618 Festival closes. A study on their offline popup store performance should also be expected.
This means that in addition to China consumers, consumers across APAC will be able to access products at deep discounts online and offline during the event.
This year Tmall is working with over 70 shopping malls and commercial districts across mainland China and Asia to open pop-up stores that will offer consumers a seamless online and offline shopping experience. New Retail is a key element in this year's promotion, combining online and offline elements.
I expect Alibaba to also release a report of their positive sales across APAC + China after the 618 Festival closes. A study on their offline popup store performance should also be expected.
Trade closed: stop reached:
Was doing well on Friday, but on Monday when the market's opened, market wide technology stocks especially chinese companies took a beating because of the Trade wars
I believe I did the right trade with because of my theory and had it not been for the trade wars I believe I could have booked a profit. I'm also happy with my discipline of setting a SL as it avoided any human emotions I would have to struggle with.
I believe I did the right trade with because of my theory and had it not been for the trade wars I believe I could have booked a profit. I'm also happy with my discipline of setting a SL as it avoided any human emotions I would have to struggle with.