Alibaba, the Chinese e-commerce giant is having the worst winter since go public. After 30% drop due to the Ant group IPO "postpone", new investigation is undertaken by authorities. Although the bully compliant is still debatable, and the conclusion is still in the mist... it is still not the time to predict the direction. However, still, the leading position of Alibaba on e-commerce and new technology in China market is hardly questionable. With that said, strong confident for Alibaba's future, 30% off is already a good entry point for long term investor.
With my limited technical knowledge and humble optimistic attitude, I am going to make an active plan as following,
1- the investigation finish and the punishment/fine is minor, open new position around $220
2- the punishment/fine is restrict, company correction is required... further drop is obvious, observe monthly trend line, the price point at $185
3- the punishment/fine is restrict, impact to industrial correction ... be ready for taking opportunity at previous supporting point at $175, meet EMA 55 month point.
With my limited technical knowledge and humble optimistic attitude, I am going to make an active plan as following,
1- the investigation finish and the punishment/fine is minor, open new position around $220
2- the punishment/fine is restrict, company correction is required... further drop is obvious, observe monthly trend line, the price point at $185
3- the punishment/fine is restrict, impact to industrial correction ... be ready for taking opportunity at previous supporting point at $175, meet EMA 55 month point.
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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.