$BABA - Possible upside to the next target area

2024年8月31日

BABA It looks like a successful neckline checkback. There’s a chance it could head toward the second and third targets soon.

The second target area of $88 to $90 is a strong resistance and might be challenging to break.

I’m guessing that PDD can no longer engage in cutthroat price wars or endless promotions and might be losing market share to BABA.

With China starting to ease its grip on tech companies, Ant Group might finally go public sometime in the future.

See Aug 14 post for price targets.

As always, I share my opinions and trades. I’m not suggesting anyone follow my trades. You do you.