Bullish uptrend in Alibaba is getting started again

Alibaba has been on a near 3 year consolidation of doing pretty much nothing. In 2018 it dropped 33% after hitting ~211 and has been choppy ever since. We are now getting signals that the trend will commence.

If we zoom in a bit on the daily here's what we see:

Do you see any Chinese stocks that are getting your attention? Pls post in the comments below. Thanks.

Kommentar:

Alibaba's been coiling between 245 - 265. I am looking for one leg higher from here

Kommentar:

breaking out

Trade geschlossen: Ziel wurde erreicht:

target hit today, still long some. Watch 325 for a possible top formation

Kommentar:

coming close to the top channel trendline. May cause short term sell pressure. Eventually I think baba breaks above this channel

Kommentar:

BABA got right back into the June 2020 breakout zone of 220. I'll be monitoring it for a long between 195 - 215. I'm in no rush to buy as I think it needs some time to bottom out: