Be careful of the falling knife
Actually long before all the crackdown in China, $BABA was already on an obvious down trend since Oct 2020 with a series of lower highs and lower lows. $200 which used to be it's support line has also become a resistance now. With all the negative news surrounding China and BABA, I don't think it's a good time to catch the falling knife just because you think it is a "bargain".
It's better to wait for BABA to recapture $200 and trend above it, making a series of higher lows and higher highs before this trend is considered invalidated. Until then, I would stand on the side line and monitor closely. For me, BABA is still a good stock with strong fundamental and I would be waiting to ride the uptrend when it's ready. I will post again when the time comes. Good luck to all. Cheers!
It's better to wait for BABA to recapture $200 and trend above it, making a series of higher lows and higher highs before this trend is considered invalidated. Until then, I would stand on the side line and monitor closely. For me, BABA is still a good stock with strong fundamental and I would be waiting to ride the uptrend when it's ready. I will post again when the time comes. Good luck to all. Cheers!
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PS: Personal opinions and not meant to be financial advice.
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Captain moo : Yoooo mooer, Great to see you here in moomoo community! You are making an awesome progress with your first post. Have fun on your journey in making more friends here!
Food For Thought3731 OP : Thanks brother. Actually 1 month ago I already posted not to catch the falling knife, but that post was in Tiger Broker instead. I just changed to Moomoo and I am glad I did! Moomoo is so much better! Not only is the community active, but there are a lot of "weapons" for me to choose from. Those trailing stop loss, even multiple orders for a single trade. All these I couldn't do in Tiger and I am super glad to be here. =)
Food For Thought3731 OP 浆糊中人 - 虫拜我吧 : Brother, Futu can trade options and I am already trading it. You better check with customer service how to do it. And yes my comments are in English but I know Chinese too because I am a Singaporean Chinese.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Food For Thought3731 OP onglai88 : Haha thanks for your comment. I am not offended at all because everyone has their opinion and it doesn’t affect me. My opinion could be wrong too. So many times in trading I always get a false breakout. Because nobody can predict the future. But it is important to trade without emotions and go according to your plans. Cut loss before it get worse and ride the trend accordingly.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Food For Thought3731 OP 浆糊中人 - 虫拜我吧 : Nice! That will be great if Futu also has such strategies to choose from. I think those brokers like TD Ameritrade can do it but very hard to open an account with them now. But anyway I am already happy with Futu and look forward to trading with Futu! Good luck tonight! Cheers.
134340Moonchild Food For Thought3731 OP : Ahhhh….so I don’t need to go over tiger then. I just opened a new acc over there and thought wanna try it out. Seems no reason right now.
MillionsOfPennies : SELL YOUR SHARES I'LL BUY THEM