The same thing can be said for Tencent too. Read my analysis on Alibaba here
In the 4H chart, I am queuing to buy at 502 support line , a strong support in the past months. However, if the government is pushing its envelope and step on the accelerator in regulating these Tech giants, we could possibly see the share price drop even further to 419.50. If that happens, I would buy even more.
Of course, the short sellers are happy to short down these giants during this periods and that cumulative actions might cause the company to take actions to shore up the share price too.
Let's review this in a month or two and see what will happen......
In the 4H chart, I am queuing to buy at 502 support line , a strong support in the past months. However, if the government is pushing its envelope and step on the accelerator in regulating these Tech giants, we could possibly see the share price drop even further to 419.50. If that happens, I would buy even more.
Of course, the short sellers are happy to short down these giants during this periods and that cumulative actions might cause the company to take actions to shore up the share price too.
Let's review this in a month or two and see what will happen......
Note
Praise the Lord
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.