Around 200 - 220$ zone is a support zone and I expect to see that the higher lows will remain intact. Not allowed to see below 170$.
This forecast was created to support you, but you have to make your trading decisions independently! As nobody sees the future, I recommend you that always apply risk management during your trading!
Comment
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Here around 260$, there could be a sideways consolidation, but I expect to see more rise. Partly closing is considered!
I got in about 270 back in Sept... That gap below 250 completely took me by surprise. Not much I can do now but wait this out, it's an incredibly strong holding company with loads of great, well recognised Chinese brands.
warrenbudget
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I think your general outlook has weight and is a valid outcome: ABC in play, potential long term trendline touch. Kindly, you could consider more evidence when posting. ie - use of fib retracement tool without showing an impulse. sloppy TL, no TA tools to yield evidence of your future PTs, no granularity on why u think ABC is complete, why cant it go under $170?
MoodandMarkets
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@warrenbudget, Thanks for your kind advice and your are right this A-B-C is not complete at the moment. It will be if the price goes above Wave B. I consider this just a thought-provoking and my opinion are that the 200$ is a good opportunity for me. It can go below 170$ which level could be the next support, but then I will know that my projection is failed and draw conclusions. Timing is not my strength :)
techserve2020
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What do you mean by applying risk management. DO you mean to apply always a stop loss on positions?
MoodandMarkets
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@techserve2020, It depends on you, on your strategy and on your portfolio. The diversification is a type of risk management if you diversify broadly then you don't need use stop loss, but you don't diversify then you must. I mean near 200$, the BABA is a good trading opportunity, but who knows the future? so somehow everybody needs handling the risk
techserve2020
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@MoodandMarkets, Mant thanks, this is a piece of great advice. For the year 2021, I am doing (a) no stop loss on my LT stocks, GOOG, FB, AAPL, MSFT, KO, QCOM, AMD, AZN; does it make sense? However, for my ST stocks, BABA, NIO, LI, FSR, SOLO, XPCV, FCEL, I must place a stop loss? please advise as ai am a new entrant to the market.
MoodandMarkets
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@techserve2020, I am thinking just the opposite, this Ev IPOs very volatile and uncertain, that's why I do not use stop NIO, Li, Xpev etc. Handle the risk by diversifying between them, one or two will be a huge success. On the other hand KO MSFT etc, I always use a stop order.