ALIBABA GROUP HOLDING LTDPembelian
9988 - Alibaba Hong Kong
Diupdate
This is Alibaba that is recently listed in HK.
I usually do not trade IPO as it lacks historical data to provide a good chart analysis but several followers wanted this, so this is the best I could do.
This is a 15 min chart and you can see 2 big gap up during the new issue. The price has now broken down from the bullish trend line and 3 scenarios are likely :
1. Touch the first support line and continue to go up
2. Falls through and fills the 1st gap before rebound
3. Falls further and fills the 2nd gap before rebound
Each one is a buying opportunity and there is no guarantee that price action will play out as we wanted. We merely react to the charts rather than anticipate its move, so to speak. If it falls to 2, we got a better risk reward ratio and of course if it falls to 3 , then we are perhaps scooping at a lower price.
Note that price could all well falls below the IPO price for a while before it rides up the bullish trend like it did for the mother share in Nasdaq.
I usually do not trade IPO as it lacks historical data to provide a good chart analysis but several followers wanted this, so this is the best I could do.
This is a 15 min chart and you can see 2 big gap up during the new issue. The price has now broken down from the bullish trend line and 3 scenarios are likely :
1. Touch the first support line and continue to go up
2. Falls through and fills the 1st gap before rebound
3. Falls further and fills the 2nd gap before rebound
Each one is a buying opportunity and there is no guarantee that price action will play out as we wanted. We merely react to the charts rather than anticipate its move, so to speak. If it falls to 2, we got a better risk reward ratio and of course if it falls to 3 , then we are perhaps scooping at a lower price.
Note that price could all well falls below the IPO price for a while before it rides up the bullish trend like it did for the mother share in Nasdaq.
Catatan
item 1 failed, now we are in item 2 midway. Let's wait a while more to see if price can be supported at 193.2 or falls through.Remember, buy low , sell high so lower the price lower the risks it is for us.
Catatan
I am awaiting patiently for the price to come to me at 187.6 level.Catatan
Praise the Lord, isn't it nice for price to come down to the level you want? By buying lower, you reduce your risk. Let's see how it plays out in the next few days. Watching closelyCatatan
we took a small position when the price action comes down to 189.4 though the gap was not fully closed. As of now, it is still in a bullish trend and we can expect quite a lot of gaps up and down for this counter.The growth for Ecommerce in China is tremendous and being a market leader, Alibaba has the advantage though many rivals are competing for this slice of the market as well.
This is a trend that is not to be missed and will continue to grow aggressively in the next 5-10 years.
Catatan
Praise the Lord, going up nicely. Congrats to those who grab at the bottom.Catatan
As China opens up more to the world, it is also embracing western cultures like celebrating Christmas and New Year as well. Shanghai, Beijing, Guangzhou, the tier 1 cities shopping malls and the e-stores like Tabao and many online stores are hawking gifts for this festive season. With year end bonus, people are more in a mood to spend and that drives up the revenue of Alibaba, the strongest player in this Ecommerce field in China.
Catatan
Praise the Lord for HE continues to bless us abundantly!Correction is for accumulation for this stock ! I believe this is one stock that can be passed over to the next generation as technology gets more advanced and their market share become larger globally.
Catatan
scmp.com/business/companies/article/3045815/hong-kongs-key-index-compiler-opens-door-chinas-technologyif this goes through, I expect the share price to soar even higher.........
Catatan
we were stopped out from this position and awaiting for the right time to get back in.
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