BABA showing bullish patterns

BABA is showing bullish patterns: cup and handle on the current 7 day chart + RSI strength similar to 9/29 breakout + moving average volume has been on the rise for 3 days in a row. And this morning in the news, Alibaba CEO, Daniel Zhang, struck a more conciliatory tone welcoming China's regulation on it's digital economy, noting "that China's digital economy has thus far been able to develop and innovate rapidly thanks to government policies". My near term (week or so) target for BABA is $300 and long term (within a year) is $400. Usually, BABA has a pattern in the morning till around 9:50am of going lower, so I'll be looking to get in by 10am, depending on what actually happens obviously. I'm currently holding a bunch of long calls I entered Thursday & Friday morning. Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny for a month it = $5,368,709. Good luck and happy trading friends...

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Note

no dice yet today, still waiting for a long entry

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ok got in on 2 more long calls. good luck.

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Still in the "handle", sideways 270ish. We'll see if this pattern completes with a confirmation today or tomorrow.

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Interesting twist of fate in current events: BABA gets bad news & JD gets good news overnight.

Beijing-based JD Health on Wednesday began taking orders for a $3.1 billion to $3.5 billion IPO, according to a term sheet seen by The Wall Street Journal. With Ant’s listing delayed, this would be Hong Kong’s largest IPO this year. JD Health said it runs China’s largest online pharmacy by revenue, organizes medical bookings and offers online consultations with doctors. (The Wall Street journal)

Alibaba online shopping apps, alongside 43 other Chinese apps, have been blocked in India, Bloomberg reported Tuesday. The e-commerce apps affected include Aliexpress — which focuses on foreign shoppers, and Taobao Live — a live-streaming shopping website. (Bloomberg)

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