$100+ magnet Alibaba (BABA)

2023年7月12日

Alibaba (BABA) has a had a great week so far after making a higher low. The volume has been decent last three days. Future targets are $120, $140, $160. Look for continuation move to the upside with a target of $102-105 before a major pullback. Massive inverse head and shoulders pattern intact. The Hang Seng Index appears to be bottoming. Expect more stimulus during this deflationary period. The regulatory environment is improving for Chinese tech companies. Therefore, I think Chinese tech will outperform the S&P and QQQ for the remaining part of the year.

Disclaimer: I am not a financial advisor and this is not financial advise. This is only for educational purposes.