$BABA-W(09988)$ $Alibaba(BABA)$ $BABA-W(09988)$ BABA continue to fall last week but was holding up very well Compared to other chinses tech. the chart seems to show that this week will have a fall too but should recover by end of the week. We should find support at 100. It is becoming too cheap and many will snap up if reach 100. Will you add?
$BABA-W(09988)$ $Alibaba(BABA)$ $BABA-W(09988)$ BABA seems to hold up pretty well last week. It closed slightly Lower than the previous week but compare to the overall market it outperformed it. The overall market seems will continue the downward trend this week but BABA should be fine.
$BABA-W(09988)$ $Alibaba(BABA)$ last week Baba bounced, what about this week? I expect it continues to move higher for this week. It should not close lower than last Friday closing price. now we know interest rate expectations is trending higher and companies like Alibaba will be in a better position compared to to other AI companies in China that are not profitable yet.
$BABA-W(09988)$ $Alibaba(BABA)$ $BABA-W(09988)$ BABA continue to hang on to the resistance turned support level. It shows that it is a strong support level so far for not breaking down. This week is super critical, if it continue to have no bounce then most likely it will break down. I expect no rate hikes from the FOMC that will have all stocks rally.
$BABA-W(09988)$ $Alibaba(BABA)$ $BABA-W(09988)$ BABA this week should continue to bounce to around 120 and that is the resistance level. I think same like all stock waiting for next week FOMC before the next move up or down. I don't really care short term up or down But I'm predicting the moves based on the charts. Do you believe in the charts?
$BABA-W(09988)$ $Alibaba(BABA)$ $BABA-W(09988)$ BABA charts telling me we should see a bounce at the current price level. I believe it would not break this support level in the short term. I may expect it to bounce to around 120 in the short term.
$BABA-W(09988)$ $Alibaba(BABA)$ BABA new share placement may sound negative but you need to understand that they are rasing cash to invest further into AI. Which is long term positive for BABA. Looking at the chart, I hope it can stay within the parallel channel. I think the downside remains limited since the placement is at 112. I will continue to hold my position, how about you?
$BIDU-SW(09888)$ $Baidu(BIDU)$ $BIDU-SW(09888)$ Baidu seems to bounce at the support level. I think short term it will be continue to be uptrend as it is oversold. I think they have value to be unlock when Kunlun AI chip goes IPO later this year and they will start to do shares buy back. If it drop to the 90 level then I will continue to add.
$BIDU-SW(09888)$ $Baidu(BIDU)$ $BIDU-SW(09888)$ Baidu will report earnings on 18 Aug, from the charts it looks like it may break support level of 100 this week and may bounce around 93 - 95 level. I may add around this price as it is too undervalued it even goes below their book price. They have interesting business coming up like their Kunlun AI chip and Apollo self driving taxi And they are also into AI. I think we will know more from their earning calls tmr.
$BABA-W(09988)$ $Alibaba(BABA)$ $BABA-W(09988)$ Alibaba charts is currently very bullish as it is on a up trending. It may find some short term resistance at the 200 day moving average at about 135 level But if it push above that then we may go back to 190 and beyond I expect all this before the year completes. Alibaba remains 1 of the undervalued AI play. Now 120 will be a good support level.