Looking at the monthly chart of Alibaba, it is unfortunately not out of the woods , yet ! Yes, there has been a slew of good news, government support, foreign investors pouring money into the big tech of China, etc. But, little does this move the bullish needle.
The yellow circle shows a bearish pin bar and if it is supposed to work as it says, then I am looking at 95 price level to accumulate. Of course, there are others who prefer to average on a monthly basis, no matter what the price is. Good for you !
For me, I can deploy my funds to other promising assets like Gold, EURUSD ,etc.
It is a challenge for some traders/investors that they have to part off with their money every time they read the news, see a chart or have a discussion with friends, as if they are afraid of missing out (FOMO).
Relax, the market always give you opportunities to enter the market .
The yellow circle shows a bearish pin bar and if it is supposed to work as it says, then I am looking at 95 price level to accumulate. Of course, there are others who prefer to average on a monthly basis, no matter what the price is. Good for you !
For me, I can deploy my funds to other promising assets like Gold, EURUSD ,etc.
It is a challenge for some traders/investors that they have to part off with their money every time they read the news, see a chart or have a discussion with friends, as if they are afraid of missing out (FOMO).
Relax, the market always give you opportunities to enter the market .
Note
The longer your time frame in investments, the less you need to see the chart ! Note
Alibaba is more than a stock. In China, it is a household brand and many retail investors are using its platform daily to buy things online. Jack Ma, the founder is also well known abroad for giving speeches on entrepreneurship, IT, etc. The 100 dollar mark is an important support level and retail investors are feeling jittery and worried what if the government has no funds to help shore up this stock. Note
Time to add now, bullish signal
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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.