Read this article here
Now, just because Alibaba took a stake in Dufry does not mean the latter is going to fly off its hook and skyrocket in its share price.
I see 3 scenarios moving forward :
1. The price remain in a range bound action as it has done so since mid March. This injection of capital might be the catalyst for it to break out of the box and hit above 4.18 resistance.
2. The price might correct further back to the support zone of 2.00 before we see a rebound.
3. The main trend line between 6.00 to 8.00 which is BEARISH remains as the gate keeper. Once this is broken, then we can confidently say and look for higher prices ahead. If not, we can expect the price to entice the buyers with a false breakout and reach for the trend line and reverse once more.
The important point to note, imo is the recovery of the global travel market. Once the latter picks up momentum as it will (is a matter of time), then we can see its retail business recovering faster than now.
Jack Ma is well aware that China is the first country to speedily recover from Covid-19 and its tourism market has benefitted from the Golden week holidays. Read here And judging from this stock
performance, could DUFRY follow its footsteps in time to come ?
Now, just because Alibaba took a stake in Dufry does not mean the latter is going to fly off its hook and skyrocket in its share price.
I see 3 scenarios moving forward :
1. The price remain in a range bound action as it has done so since mid March. This injection of capital might be the catalyst for it to break out of the box and hit above 4.18 resistance.
2. The price might correct further back to the support zone of 2.00 before we see a rebound.
3. The main trend line between 6.00 to 8.00 which is BEARISH remains as the gate keeper. Once this is broken, then we can confidently say and look for higher prices ahead. If not, we can expect the price to entice the buyers with a false breakout and reach for the trend line and reverse once more.
The important point to note, imo is the recovery of the global travel market. Once the latter picks up momentum as it will (is a matter of time), then we can see its retail business recovering faster than now.
Jack Ma is well aware that China is the first country to speedily recover from Covid-19 and its tourism market has benefitted from the Golden week holidays. Read here And judging from this stock
performance, could DUFRY follow its footsteps in time to come ?